Oil Prices Fell 3%
- 20.10.2026, 19:04
Prices are being adjusted based on expectations that negotiations between the U.S. and Iran will resume.
The price of December Brent crude oil futures fell 3.3% to a low of $105.95 per barrel during trading on Tuesday, October 20. This is according to trading data as of 5:31 p.m. Minsk time.
Oil prices are falling amid unconfirmed reports of progress in resolving the conflict in Iran, according to Bloomberg. According to the agency, Qatar and Pakistan have put forward a new proposal to resume negotiations aimed at ending the war in Iran.
Earlier, oil prices rose to five-month highs amid escalating hostilities in the Middle East and increased attacks on tankers in the Strait of Hormuz. On Tuesday, the price of Brent crude rose above $111 per barrel for the first time since May 20.
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