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Oil hits over 1-week low on hopes of boost to diplomacy in Iran war
Brent and WTI fell below key levels as traders weighed UN talks and a partial rebound in Saudi exports after Houthi attacks.
- On Monday, oil prices slid to their lowest in more than a week, with Brent crude futures down 2.08% to US$101.71 a barrel as investors weighed diplomatic hopes regarding the Iran war.
- President Donald Trump said on Sunday he would be open to meeting Iranian President Masoud Pezeshkian, who is expected to attend the United Nations General Assembly in New York this week.
- On Saturday, Yemen's Iran-backed Houthis said they attacked 'sensitive' sites in Riyadh and a Saudi Aramco facility in Yanbu with missiles and drones, elevating Middle East tensions.
- Attacks on the East-West pipeline prompted Saudi Aramco to shift exports through the Strait of Hormuz, enabling shipments to recover to over 4 million barrels per day so far in September.
- Iran has conveyed conditions to mediators for re-engaging in negotiations, while China reportedly asked Iran to help rein in the Houthis following an appeal by Saudi Arabia.
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Brent crude oil prices fell 1.97 percent to $101.83 per barrel.
·Tehran, Iran (Islamic Republic of)
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Oil at 1 week low on hopes of boost to diplomacy in war
Oil prices slid to their lowest in more than a week on hopes diplomacy in the Iran war will get a chance this week amid a UN meet and as investors eyed a partial recovery in shipments from Saudi Arabia despite ongoing attacks by Yemen's Houthis.
·Ireland
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Crude Oil Falls for Fourth Consecutive Session - Supply Risks Remain
·Marousi, Greece
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At $98.45 a barrel, -1,84%. Brent traded at $102.09 (ANSA)
·Rome, Italy
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Oil prices are falling on expectations that this week will be an opportunity to resume efforts to resolve the US conflict with Iran diplomatically.
Coverage Details
Total News Sources51
Leaning Left0Leaning Right8Center9Last UpdatedBias Distribution53% Center
Bias Distribution
- 53% of the sources are Center
53% Center
C 53%
R 47%
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