WTI Crude Oil Falls Below $100 Amid Peace Talks

WTI crude oil prices fell below $100 per barrel amid market hopes for a diplomatic resolution to the Middle East conflict.

Negotiations between Iran and Qatar lasted three days. Tehran proposed an accelerated plan to restore navigation in the Strait of Hormuz, which included fulfilling agreed US conditions on the first day and resuming navigation on the second.

Donald Trump prefers to give diplomacy more time and has not yet decided on new strikes against Iran.

• President Donald Trump advocates continuing negotiations instead of military action.
• Israeli Prime Minister Benjamin Netanyahu insists on resuming strikes after the US elections on November 3.

According to Axios, the leaders of the two countries disagreed on future actions. The Iranian delegation left Qatar, but consultations through intermediaries continue, and Tehran is awaiting Washington's response to its proposal.

No peace agreement has been reached yet. The parties maintain differences regarding the nuclear program, sanctions, and terms of the conflict cessation.