Crude oil prices have gone into a tailspin on Monday after media reports said that in its talks with Iran, Qatar submitted revised proposals to convince Iran for an agreement with the U.S. Iran acknowledged that discussions are ongoing.
WTI Crude Oil for December delivery was last seen trading down by $7.76 (or 7.45%) at $96.36 per barrel.
The U.S.-Iran war is in its ninth month now, leaving the Strait of Hormuz still closed for international shipping.
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Market Analysis
Crude Oil Nosedives Amid Rising Hopes On Possible U.S.-Iran Deal
2026-11-02 19:37:21
