Oil Falls 6% After Report Iran’s Supreme Leader Authorized US Peace Talks
The reported move links a sharp decline in oil prices to news of possible peace talks.
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03:50:19 PM UTC
SquawkNews
By Farhan RafidOil prices dropped more than 6% on Monday as renewed diplomatic efforts to end the conflict between the U.S. and Iran eased concerns over Middle East oil supplies, reversing some of last week's gains.Brent crude futures for January delivery fell 6.5% to $106.01 a barrel, while U.S. W…