Oil prices fall to two-month low as Trump says new Iran strikes 'unlikely'
Oil prices have fallen to a fresh two-month low as optimism among investors over signs of diplomacy between the US and Iran helped the sell-off gain steam. The price of Brent crude oil sank by more than 4% to below 93 US dollars a barrel during Monday afternoon. This took the commodity to its lowest price since early September. It had edged back up to around 94 dollars a barrel shortly after. The price of Brent crude has tumbled from highs of more than 115 dollars a barrel late last month, as investors welcomed signs of diplomatic efforts between the US and Iran. US President Donald Trump…
The U.S. military carried out another round of strikes in Iran on Friday, according to reports published on November 7. KCRA reported that President Donald Trump said the strikes targeted an Iranian air defense system, while NBC News said the military described them as defensive and reported explosions on Qeshm and Hengam islands and near Bandar Abbas. The Hindu said the strikes came as Tehran considered proposals from a mediator, but the reports did not specify the extent of damage or whether there were casualties.
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