Oil prices slide over 4% as investors brace for Iran diplomatic talks
· Business · CNBC
Brent and WTI crude futures fell over 4% in early trade on Monday as diplomats renewed efforts to ease tensions with Iran. According to Reuters, a draft proposal was circulated after another round of talks in Doha on Sunday. Goldman Sachs raised its December price forecast to $105 per barrel for Brent and $94 per barrel for WTI, citing a 1mb/d global supply disruption allowance through 2027. U.S. Secretary of State Marco Rubio stated President Donald Trump prefers a diplomatic resolution, while noting military options remain available. Futures are set to start November on a positive note after October's market volatility.
Why it matters
Indian consumers face higher fuel costs as domestic petrol and diesel prices are linked to international crude benchmarks; the supply disruption risk cited by Goldman Sachs could sustain elevated pump prices through 2027.
Read the original report — CNBC
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