Oil price falls amid hope of a breakthrough to end Iran war

NEWS SUMMARY

Oil prices fell to a two-week low of $105.55 a barrel on Monday amid reports of intensive US-Iran consultations through mediators aimed at ending an eight-month conflict. Investors were encouraged by Iranian media claims that the supreme leader granted powers to his government for talks with the US, potentially leading to the reopening of the Strait of Hormuz.

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Brent crude drops by more than 6% to $105. 55 a barrel, the lowest level in more than two weeksThe oil price has fallen to its lowest level in more two weeks amid new hopes of a breakthrough to end the Iran war.

Oil price falls amid hope of a breakthrough to end Iran war

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