Oil prices fall to a one-week low
The possibility of diplomacy at the UN Summit and the recovery in Saudi Arabia's shipments led to a decline in oil prices.
Oil prices dropped to a one-week low as hopes emerged during the UN Summit that diplomacy could be given a chance in the Iran war, alongside a partial recovery in Saudi Arabia's oil shipments.
Monday's Decline
Oil prices fell to a one-week low on Monday amid hopes during this week's UN Summit that diplomacy might be given a chance in the Iran war and as Saudi Arabia experienced a partial recovery in its oil shipments.
Brent crude oil futures and US crude oil hit their lowest levels since September 10 in early trading on Monday.
Latest Status on Brent and US Crude Oil
Brent crude declined by 2.08 percent to $101.71 per barrel.
US crude oil dropped by $2.15, or 2.14 percent, to $98.15 per barrel following a 1.58 percent decline in the previous session.