The price of oil in the world market dropped Reuters reported on Monday that following the meetings between senior Iranian and Qatari officials to reach an agreement to end the war between the US and Israel against Iran, the world price of oil dropped. The price of Brent crude oil fell by $1.59 (equivalent to 1.40%) to $111.84 per barrel. US West Texas Intermediate crude also fell by $1.56 (equivalent to 1.50%) to $102.56 per barrel. the channel.