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Oil price dips to USD100
NEW YORK: Oil prices eased on Monday to their lowest level in 12 days, as investors hoped for diplomatic progress on the Iran war due to this week’s United Nations meeting and eyed a partial recovery in shipments from Saudi Arabia. The Brent crude futures November contract settled at USD100.34 a barrel, down USD3.53, or 3.4 percent. The WTI October contract that is expiring on Tuesday fell USD4.52, or 4.51 percent, to USD95.78 a barrel. The November contract stood at USD92.47. Both benchmarks fell to their lowest since September 9. On Sunday, Iran and the US exchanged new threats, although Pre...
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