Oil price falls amid hope of a breakthrough to end Iran war
Source: The Guardian ·
Brent crude dropped by more than 6% to $105.55 a barrel, the lowest level in two weeksThe oil price fell to its lowest level in over two weeks on Monday, amid new hopes of a breakthrough to end the Iran war.Brent crude, the international benchmark, dropped by more than 6.5% to as low as $105.55 a barrel, the lowest since 16 October, sending shares in airline companies higher and pushing down…
From the source
The oil price fell to its lowest level in over two weeks on Monday, amid new hopes of a breakthrough to end the Iran war. Brent crude, the international benchmark, dropped by more than 6.5% to as low as $105.55 a barrel, the lowest since 16 October, sending shares in airline companies higher and pushing down government borrowing costs. Oil prices fell after Tehran revealed that contacts between Iran and the United States to end their eight-month war are continuing. “Consultations through mediators are very intensive. We have presented our conditions and proposals and everything depends on the political rationality of Washington,” Iranian foreign minister Abbas Araghchi said, according to state media outlet IRNA. Over the weekend, Qatari officials tried to negotiate the release of more than $6bn in Iranian assets, so that Tehran might allow the strait of Hormuz to reopen. Donald Trump had earlier taken a belligerent tone, telling voters in Iowa that Iran would receive “the hammer”…
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