Oil prices fall amid hopes for diplomacy over Iran

On Monday, oil prices fell to their lowest level in the past ten days.

Investors are counting on diplomatic progress in resolving the conflict over Iran thanks to the UN session scheduled for this week, and are also expecting a partial recovery of Saudi oil supplies, despite ongoing attacks by Yemen's Houthis, Reuters reports.

The benchmark Brent and West Texas Intermediate (WTI) grades fell to their lowest levels since September 10. November futures for Brent crude dropped by $1.78 (1.71%) to $102.09 per barrel, continuing their decline after Friday's 0.91% drop.