Oil Slides as Markets Bet on Iran PeaceMarkets Welcome Diplomacy as Iran War Keeps Oil Risk HighOil Traders Bet on Peace While Iran Attacks Threaten Supply
Oil prices fell sharply in the week ending November 6 as traders weighed signs of U.S.-Iran diplomacy against continued attacks near the Strait of Hormuz.Oil prices fell 15% in the week ending November 6 as hopes for U.S.-Iran diplomacy grew, although attacks near the Strait of Hormuz continued.Oil fell 15% in the week ending November 6 on hopes for a U.S.-Iran deal, even as attacks near the Strait of Hormuz persisted.