Oil Prices Plunge 7% as U.S. and Iran Signal Room for Diplomacy
The Quick Take
Oil prices plunged nearly 7% on Monday after Washington and Tehran both signaled they would give diplomacy a chance, wiping out part of the war premium that lifted crude through October. Brent traded at $105.60 per barrel, down $7.85, and WTI fell $7.20 to $96.92. Iranian President Masoud Pezeshkian said on Monday that the Supreme Leader has granted the government “certain authorities” over peace
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