Commodities
Oil Prices Slide on Hopes for Iran Diplomacy and Partial Saudi Recovery
Oil prices dipped to $100.34 on Monday as investors hoped for diplomatic progress on the Iran war and eyed a partial recovery in shipments from Saudi Arabia.
The Brent crude futures November contract settled at $100.34 a barrel, down $3.53, or 3.4%. The WTI October contract that is expiring on Tuesday fell $4.52, or 4.51%, to $95.78 a barrel.
On Sunday, Iran and the US exchanged new threats, although President Donald Trump said he would be open to meeting Iranian President Masoud Pezeshkian, who is expected to be in New York this week for the United Nations General Assembly.
'Just a couple days ago that would have seemed like a very far-flung idea,' said Bob Yawger, director of energy futures at Mizuho. 'It's a move in the right direction.'