Brent crude falls over 6.5% on Iran war diplomacy hopes
The Guardian reports Brent crude fell as low as $105.55 a barrel, the lowest since 16 October, as Iran signalled continued mediated talks with the US.
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The Guardian reports Brent crude fell more than 6.5% to as low as $105.55 a barrel on Monday, its lowest since 16 October, after Iran's foreign minister said mediated consultations with the US to end the eight-month war were continuing and reports that Supreme Leader Mojtaba Khamenei had granted his government negotiating powers.
Brent crude falls over 6.5% on Iran war diplomacy hopes ↗The Guardian reports Brent crude fell as low as $105.55 a barrel, the lowest since 16 October, as Iran signalled continued mediated talks with the US.
The Guardian reported that AI-related stocks drove a global selloff Thursday, with the S&P 500 down 1.2% and Nasdaq down 2.6%, while Brent crude rose 4% to $113.17.
The IEA forecasts global oil demand to drop 2.6 mb/d in 2026 as the Iran war restricts fuel supplies and raises prices, with diesel hit hardest.