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2026-11-02T06:41:20.000Z

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Oil Drops on Iran Peace

Oil Drops on Iran Peace

Oil prices fell by more than 3% on Monday as Iranian-Qatari talks aimed at ending the U.S.-Israeli war on Iran continued, amid hopes of diplomatic progress and no major military escalation. Brent crude fell 3.01% to $110 a barrel, while West Texas Intermediate dropped 3.3% to $100.70. OPEC and its allies, known as OPEC+, kept their December production targets unchanged, while markets watched for the possibility of renewed escalation after the U.S. midterm elections.

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