🔶 Perceptible drop in global oil prices with growing hopes for an end to the Iran war.
Although no peace agreement was signed between Iran and the US, the hope of resolving the conflict between the two sides made investors optimistic about the end of the war between the countries, and this optimism showed its effect on the oil and gasoline market in the form of lower prices.
North Sea Brent crude and US crude oil (WTI) today, Monday, November 9, fell more than 1% to $96.76 and $89.77 per barrel, respectively.
The reason for this reduction is that US President Donald Trump has announced that new attacks against Iran are highly unlikely as long as negotiations to end the conflict continue.
The price of Brent oil has already dropped in the last week by about 16%.