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Oil prices down over 6% on hopes of US-Iran diplomacy

World News

02-11-2026 | 09:28

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Oil prices down over 6% on hopes of US-Iran diplomacy

Oil prices extended losses Monday on hopes of new talks between the United States and Iran aimed at ending the Middle East conflict.

Crude futures, already down about four percent earlier on the diplomatic prospects, dropped further as the trading day went on.

The main international contract, Brent North Sea crude, shed 6.1 percent to $106.54 a barrel, while the U.S. benchmark West Texas Intermediate gave up 6.3 percent to $97.56.

AFP

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