Global oil prices fall as US midterm elections result in Democratic gains
The US attacked Iran's Qeshm Island on Monday. Oil prices fell sharply, with Brent crude dropping 7.64 percent to $104.77. US and Iran signaled a willingness to talk, and Iranian leaders said they may reopen the Strait of Hormuz.
- The US attacked Iran’s Qeshm Island on Monday.
- Brent crude price fell 7.64 percent to 104.77 dollars.
- US West Texas Intermediate crude was up 47 cents, or 0.5 percent, at $96.93 a barrel.
- Oil prices decreased by more than 6 percent on Monday.
- Iranian President Masoud Pezeshkian said Supreme Leader Ayatollah Mojtaba Khamenei granted the government certain powers to pursue peace talks.
- The US-Iran conflict sharply reduced traffic through the Strait of Hormuz.
- Apple shares fell 2.8 percent in after-hours trading.
- Since the start of the Iran war in late February, global oil prices have risen about 45 percent.
- Brent crude futures rose by 1.07 percent from the previous close.
- MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.9 percent.
- US and Iran signaled a willingness to pursue peace talks.
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