Oil hits over 1-week low on hopes of boost to diplomacy in Iran war
Brent and West Texas Intermediate fell as traders priced in a possible diplomatic opening at the UN and a partial recovery in Saudi shipments.
- On Monday, oil prices slid to their lowest in more than a week, with Brent crude futures down 2.08% to US$101.71 a barrel as investors weighed diplomatic hopes regarding the Iran war.
- President Donald Trump said on Sunday he would be open to meeting Iranian President Masoud Pezeshkian, who is expected to attend the United Nations General Assembly in New York this week.
- On Saturday, Yemen's Iran-backed Houthis said they attacked 'sensitive' sites in Riyadh and a Saudi Aramco facility in Yanbu with missiles and drones, elevating Middle East tensions.
- Attacks on the East-West pipeline prompted Saudi Aramco to shift exports through the Strait of Hormuz, enabling shipments to recover to over 4 million barrels per day so far in September.
- Iran has conveyed conditions to mediators for re-engaging in negotiations, while China reportedly asked Iran to help rein in the Houthis following an appeal by Saudi Arabia.
122 Articles
122 Articles
Evening Standard
FTSE 100 climbs as oil prices dip on US-Iran talks hope
The FTSE 100 index ended up 79.88 points, or 0.8%, at 10,739.01.
Brent's barrel, an international oil benchmark, was returned Monday under 100 dollars, while the US equivalent the WTI lost more than 5%. ...
The European crude oil went back about 4%, to be close to 99.80 dollars
And so it ended with more than ten days in a row above this barrier, which had come to pass after the new oil surge following the stalemate in the conflict in Iran. Thus, Brent was deflating at around 4% and traded over 99.80 dollars after this end ... Continue reading "Brent oil drops more than $100 for the first time in almost two weeks"
TVA Nouvelles
Le Journal de QuebecOil: the Brent returns to 100 dollars in the hope of diplomatic improvements in the Middle East.
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