Brent crude fell more than 6.5% on Monday to as low as $105.55 a barrel, The Guardian reported. It was the lowest level since October 16, as hopes grew for a US-Iran breakthrough.
Oil prices dropped sharply on Monday on hopes of a breakthrough to end the Iran war. Brent crude, the international benchmark, fell more than 6.5% to as low as $105.55 a barrel, The Guardian reported. That was its lowest level since October 16.
The fall lifted airline shares and pushed down government borrowing costs, according to The Guardian. France 24 linked the drop to hopes of a US-Iran detente ahead of the US midterm elections. Semafor said prices fell on hopes of progress in talks in the Gulf.
None of the sources gave details of the talks or said who was taking part. Nor did they say when a deal might be reached.
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