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Brent and WTI crude fell more than 4% in early trade on Monday as negotiators renewed diplomatic efforts with Iran, with a draft proposal circulating after talks in Doha. US Secretary of State Marco Rubio said Washington would prefer a diplomatic resolution.
Goldman Sachs raised its December oil price forecast to $105 for Brent and $94 for WTI, citing high disruption risk.
Lower crude prices ease diesel and energy costs for feed mills and farmers, but Goldman's forecast points to continued supply risk that could limit the decline. Direction will depend on whether the Iran talks produce a concrete deal.
cnbc.comLeonie KiddNov 2, 2026Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
