Commodities
Oil Prices Plummet on Hopes of US-Iran Talks and Saudi Exports Recovery
Oil prices declined by more than 2% on Monday due to hopes of renewed US-Iran talks and a recovery in Saudi crude exports.
The November delivery price of Brent crude futures fell to $101.68 a barrel, down 2.12% from the previous close of $103.87.
West Texas Intermediate (WTI) crude futures for November delivery also decreased by 2.32% to $93.85 a barrel from $96.08.
Qatar's Foreign Ministry spokesman Majed al-Ansari stated that their mediation team has been discussing proposals with the US and Iran for nearly two weeks to restart talks.