Crude oil prices fall amid possible talks between US and Iran
Oil prices fell sharply on Monday following reports of a potential diplomatic resolution to the Middle East conflict between the United States and Iran.
The price of Brent crude lost more than three percent, reaching $109.74, while the price of WTI crude also fell by more than three percent to $100.44.
US Secretary of State Marco Rubio stated that US President Donald Trump prefers no military action and seeks a diplomatic solution to the Iran conflict. He emphasized that a decision has not yet been made, but all necessary conditions for success are in place.
Tehran also signaled continued willingness to engage in talks. Following two days of negotiations under Qatari mediation, an agreement remains possible, provided the demands are implemented concretely.
At the same time, both sides appear to be preparing for further action. According to the Wall Street Journal and the New York Times, the US is preparing for possible new military steps after the midterm elections on November 3.
Iran’s Supreme Leader Mojtaba Khamenei called on the armed forces to respond to any threat with an immediate, effective, and geographically unlimited response.
In the short term, the crises in the Middle East and Ukraine continue to be a burden. However, a US investment bank has raised its oil price forecasts for December and 2027, citing the high risk of supply disruptions due to the conflicts between Russia and Ukraine, as well as in the Middle East.
Source
“Ölpreise fallen: Mögliche Trump‑Iran‑Diplomatie sorgt für Druck – BP, Shell & Co dennoch mit Stärke”
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