Iranian President Massoud Pazhkian said the country's supreme leader has given the government the authority to negotiate peace, Bloomberg reports. Amid statements about a possible diplomatic settlement to the conflict with the US and Israel, Brent oil futures accelerated their decline, falling about 6% to $106 a barrel.

Iranian President Massoud Pazhkian said the country's supreme leader has given the government the authority to negotiate peace, Bloomberg reports. Amid statements about a possible diplomatic settlement to the conflict with the US and Israel, Brent oil futures accelerated their decline, falling about 6% to $106 a barrel.