Oil Prices Fall 6% Over Renewed Hopes Of US-Iran Peace Talks
Oil prices extended losses Monday on hopes of new talks between the United States and Iran aimed at ending the Middle East conflict.
Crude futures, already down about four per cent earlier on the diplomatic prospects, dropped further as the trading day went on.
The main international contract, Brent North Sea crude, shed 6.1 per cent to $106.54 a barrel, while the US benchmark West Texas Intermediate gave up 6.3 per cent to $97.56.
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