Oil prices fall as Iran-Qatar talks continue
Economy · First reported 2 Nov, 02:12 · Updated 02:37
Crude benchmarks fell Monday amid diplomatic activity involving Iran and Qatar, while reports also described continued attacks on shipping near the Strait of Hormuz. OPEC+ left December output targets unchanged.
- Brent and WTI prices fell by more than 1% in early Monday trading, according to the reported prices.
- Iranian and Qatari officials continued consultations aimed at supporting diplomacy between Washington and Tehran; a separate report described Qatari-mediated negotiations in Doha.
- The reports also noted attacks on shipping near the Strait of Hormuz; OPEC+ kept its December production targets unchanged.
Summary written by Lux AI from 2 articles
Key facts
- Brent
- $111.84 a barrel, down 1.40% by 0011 GMT Monday.
- WTI
- $102.56 a barrel, down 1.50% by 0011 GMT Monday.
- OPEC+
- Kept December production targets unchanged on Sunday.
- Shipping reports
- The American Conservative said UKMTO reported two tankers hit Sunday near the Strait of Hormuz.
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