Oil prices slid to their lowest in 11 days as investors hoped for diplomatic progress on the Iran war due to this week’s UN meeting, and eyed a partial recovery in shipments from Saudi Arabia, Reuters reports.
Brent crude futures and US West Texas Intermediate crude touched their lowest since September 10 earlier on Monday. The Brent contract for November was at $101.75 a barrel at 0859 GMT, down $2.12, or 2 per cent.
The WTI October contract that is expiring on Tuesday fell $1.96, or 2pc, to $98.34 a barrel. The November contract stood at $94.16.
Iran and the US exchanged new threats on Sunday, although President Donald Trump said he would be open to meeting Iranian President Masoud Pezeshkian, who is expected to be in New York this week for the United Nations General Assembly.
