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Oil prices fall on hopes for US-Iran talks

By ChordNews · First written (new coverage )

Oil prices down on hopes of Gulf talks progress
Image: semafor.com
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Summary

Oil prices fell on Monday as talks in Qatar revived hopes of reopening the Strait of Hormuz, and the decline later extended after Iran's president said the supreme leader had given officials certain authority over talks with the United States. US President Donald Trump has reportedly pushed for more negotiations with Iran, but he has also kept the threat of fresh strikes on the table, and Israel's Benjamin Netanyahu has reportedly urged him to hit Iran straight after Tuesday's midterm elections.

This continues an earlier story: Tech stocks slide in Asia and the US as disappointing earnings fuel fears over AI spending

Later: Oil steadies as hopes grow for a US-Iran settlement, with strike risk still in view · Renewed US-Iran war fears push oil prices higher after a days-long selloff

Timeline

  1. Euronews

    Source ↗

    Euronews reports that oil prices fell on Monday morning as talks in Qatar revived hopes of reopening the Strait of Hormuz, while Trump kept the threat of fresh strikes alive and Netanyahu reportedly urged him to hit Iran straight after Tuesday's midterm elections.

  2. Semafor

    Source ↗

    Semafor reports that oil prices fell on hopes of progress in Gulf talks, with Trump reportedly pushing for more negotiations with Iran.

  3. Financial Times

    Source ↗

    The Financial Times reports that oil prices extended their decline after Iran's president said the supreme leader had given officials certain authority over talks with the United States.

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