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Oil hits over 1-week low on hopes of boost to diplomacy in Iran war

Iran oil prices dropped to a one-week low as market optimism grew over potential diplomatic efforts in the Middle East conflict.

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Oil hits over 1-week low on hopes of boost to diplomacy in Iran war

Brent crude futures fell $2.16, or 2.08 percent, to $101.71 a barrel by 0213 GMT on Monday. The fall dropped prices to their lowest level since September 10.

The decline came as investors watched for a possible diplomatic breakthrough in the war between the US and Iran ahead of a United Nations meeting this week. Markets were also responding to signs that oil shipments from Saudi Arabia are starting to recover despite continued strikes by Yemen's Houthi forces.

US West Texas Intermediate crude dropped $2.15, or 2.14 percent, reaching $98.15 a barrel. That followed a 1.58 percent drop in the previous trading session, while Brent settled 0.9


According to Joy Online.

Isaac Nana Yaw Annor

Isaac Nana Yaw Annor, popularly known as King Bygone, is a Ghanaian blogger, publicist and digital publisher, and the editor of Accra Posts. He started out with an entertainment blog, wrote more than 389 articles for Opera News, and worked alongside broadcaster Abeiku Santana on media and publicity from 2016 to 2024. He founded The Gospel Post, We Post Weddings, Nsemwokrom, AfroYard and Culture Gossip, and is a certified software engineer (ALX Africa). Avance Media named him among the Top 50 Ghanaian Bloggers in 2022, 2023 and 2024.

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