Oil prices dropped over 1% following ongoing talks between Iranian and Qatari officials aimed at reducing conflict. Brent crude futures fell to $111.84, while US West Texas Intermediate crude fell to $102.56. The drop in prices followed a strong increase seen last week before the US midterm elections. Opec+ has kept production targets unchanged due to ongoing disruptions. Market observers remain cautious about potential military escalations after the elections. Oil prices dropped over 1% following ongoing talks between Iranian and Qatari officials aimed at reducing conflict. Brent crude futures fell to $111.84, while US West Texas Intermediate crude fell to $102.56. The drop in prices followed a strong increase seen last week before the US midterm elections. Opec+ has kept production targets unchanged due to ongoing disruptions. Market observers remain cautious about potential military escalations after the elections.
