Oil price falls amid hope of a breakthrough to end Iran war
Brent crude drops by more than 6% to $105.55 a barrel, the lowest level in more than two weeks The oil price has fallen to its lowest level in more two weeks amid new hopes of a breakthrough to end the Iran war. Brent crude, the international benchmark, dropped by more than 6.5% to as low as $105.55 a barrel on Monday, the lowest since 16 October, sending shares in airline companies higher and pushing down government borrowing costs. Oil prices fell after Tehran revealed that contacts between Iran and the US to end their eight-month war were continuing. “Consultations through mediators are very intensive.
