Oil Drops More Than 3.5% on Optimism Over Iran Talks
Oil prices fell more than 3.5% amid diplomatic discussions over a potential deal to reopen the Strait of Hormuz. Concerns about a possible resumption of U.S. military strikes on Iran remain elevated.
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09:30:52 AM UTC
SquawkNews
UPDATE 4-Oil drops almost 4% on hopes of progress in talks on ending US-Iran war Updates prices, add
Oil prices drop more than 3.5% ahead of the U.S. midterm elections as diplomatic discussions involving Qatari mediators over a potential deal to reopen the Strait of Hormuz ease the risk premium. However, concerns over a possible resumption of U.S. military strikes on Iran remain elevated.
"The pri…