Brent oil prices fell on Iran's plan to resolve the conflict with the US through dialogue.
The price of this type of oil on the ICE exchange fell by 6.9% and fell to a minimum of $105.61 per barrel (January contract).
Hopes for a diplomatic solution to the US-Iran conflict have reduced concerns about further supply disruptions, writes Economics of Commerce. According to Iran's state news agency IRNA, Iran's Supreme Leader Mujtaba Khamenei has given the government the authority to resolve the conflict with the United States through negotiations.
In addition, as Axios reported, citing sources, US President Donald Trump also preferred to give more time to diplomatic negotiations with Iran, despite Israeli Prime Minister Benjamin Netanyahu's calls to strike Tehran immediately after the mid-term elections for the US Congress.
Data: TradingView.