Iran-US Talks Fail to Boost Crude Oil Futures Gains

Crude oil futures initially rose on Monday following reports that talks between the US and Iran were set to continue.

However, the gains were largely surrendered by mid-day as it became clear that the negotiations would not lead to an immediate resolution.

The US had previously pushed back on Iran's proposals, with President Donald Trump rejecting a ceasefire roadmap in September. The latest development suggests that military strikes against Iranian targets may resume after the November midterm elections.