Crude Oil Prices Fall on VP Vance Outreach to Iran

Dec WTI crude oil prices fell on Thursday as the market assesses mediation efforts to avert a possible US military attack on Iran after this Tuesday’s US mid-term elections. The Wall Street Journal reported that US Vice President Vance sent a letter to hardliner Mohsen Rezaee, secretary of Iran’s top security body, to see if a framework for negotiations exists. Iran said it has not yet replied to the letter. Axios reported Wednesday that Qatar is leading behind-the-scenes mediation efforts, supported by Pakistan, Saudi Arabia, Egypt, and Türkiye. The news of negotiations followed the Wall Street Journal’s report Tuesday that...