Oil drops 7pc as Iran signals openness to talks

NEW YORK: Oil prices fell more than 7 percent on Monday as talks between Iranian and Qatari officials lifted hopes for an end to the US-Israeli war with Iran and stabilization of Middle East crude supply. Brent crude futures settled USD8.66, or 7.63 percent, lower to USD104.77 a barrel. US West Texas Intermediate crude was down USD7.66, or 7.36 percent, at USD96.46. The session low for Brent was USD103.28 and for WTI it was USD95.15, with some analysts citing hopes for a diplomatic breakthrough

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