https://www.live-feeds.com/feed/oil-prices-fall-amid-reports-that-the-u-s-and-iran-are-both-seeking-diplomacyContinuously updated, source-cited coverage. https://www.live-feeds.com/feed/oil-prices-fall-amid-reports-that-the-u-s-and-iran-are-both-seeking-diplomacyhttps://www.live-feeds.com/feed/oil-prices-fall-amid-reports-that-the-u-s-and-iran-are-both-seeking-diplomacy#u175296Wed, 04 Nov 2026 21:35:13 +0000Oil prices fell sharply Monday following reports that the U.S. and Iran are pursuing diplomatic solutions to end their war. International benchmark Brent crude for January delivery dropped 3.31% to $109.67 a barrel, while U.S. West Texas Intermediate futures for December fell 3.34% to $100.64 per barrel. The price decline occurred despite renewed attacks in the Strait of Hormuz. The market shift follows signals from the presidents of both nations that they are open to diplomacy, raising hopes for a recovery in Gulf supply.Why it mattersThe conflict has caused significant market volatility and