Oil prices fall following Trump-declared energy ceasefire and regional diplomatic talks
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Oil prices dropped Monday as President Donald Trump announced an energy ceasefire between Russia and Ukraine, halting attacks on energy facilities and boosting diesel supply prospects. International benchmark Brent crude for December delivery fell 1.65% to $102.99 a barrel, while U.S. West Texas Intermediate futures for November declined 1.92% to $90.09 per barrel. Additionally, Iranian Foreign Minister Abbas Araghchi spoke with Saudi Foreign Minister Faisal bin Farhan bin Abdullah to discuss regional escalation, offering Iranian assistance to facilitate dialogue between Saudi Arabia and Yemen's Houthis.
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