Brent crude oil prices fell to their lowest level in two weeks Monday, as US President Donald Trump hinted at progress in negotiations with Tehran, and Iran’s supreme leader empowered the government to pursue peace talks.
A risk analyst cautioned that Trump’s positive signals “may be tactical” ahead of Tuesday’s US midterm elections, after which he may be tempted to try “one last throw of the iron dice,” a markets analyst said. T
hough the White House has suggested new strikes against Iran could follow Tuesday’s vote, experts raised doubts about Washington’s capacity to launch a renewed war effort. US Gulf bases have suffered billions of dollars’ worth of damage, and interceptor supplies are depleted by more than half.
— Brendan Ruberry
