Talks, Tankers and a Tough Call: Oil Plunges as Trump Keeps Iran Diplomacy Alive Into Election Day
Brent crude fell more than 7% on Monday as Qatari mediators headed to Tehran. Israel is pressing for strikes right after the vote, Axios reports. The President, for now, is letting diplomacy run — while keeping the military option on the table.
By Clara Hughes
Oil markets delivered their verdict on the Iran talks before American voters delivered theirs. On Monday, Brent crude fell $8.66, or 7.63%, to $104.77 a barrel, and U.S. West Texas Intermediate fell $7.66, or 7.36%, to $96.46, Reuters reported. The trigger: signs that contacts between Washington and Tehran were continuing, and that Qatari mediators were traveling to the Iranian capital Monday evening. It was welcome relief for Americans who have been paying war-time prices at the pump. It also may not last. And behind the scenes, according to Axios, the President has been fending off pressure from Israeli Prime Minister Benjamin Netanyahu to strike Iran as soon as the midterm votes are cast. This Special Report sets out what is known, what is claimed, and what to watch. Keep reading with Altas Premium. Below: Iran's condensed "two-day" plan and its sticking points, the Trump–Netanyahu call, why traders are warning of "false dawns," the Gulf energy squeeze in numbers, and the four signals that will tell you whether this ends in a deal or a strike. [Subscribe to Altas World News →] How we got here The current war began on Feb. 28, when the United States and Israel launched strikes on Iran, Reuters reported. Axios described the February campaign