Oil falls more than 7% on Iran peace-talk hopes: what it means for feed costs

Oil fell more than 7% in a day. Brent dropped to about $105 a barrel and WTI to about $97 after talks raised hopes of ending the war with Iran.

What changed. Iran's president said the supreme leader gave the government authority for peace talks. A draft proposal is circulating.

Why feed buyers care. Oil and diesel drive the cost of making feed, hauling it and producing fertilizer. Lower crude eases those costs.

But it's not settled. Traders are skeptical after earlier false dawns. If talks stall, prices could rebound. Watch the headlines.

Oil fell more than 7% in a day. Peace-talk hopes between Iran and Qatar sent crude sharply lower on Monday.

What moved the market. Iran's president said the supreme leader gave the government certain authorities for talks. A draft proposal is circulating.

Where prices landed. Brent fell to about $105 a barrel. WTI fell to about $97.

Why feed buyers care. Lower crude and diesel reduce energy costs in feed production, transport and fertilizer.

Takeaway: not a done deal. Traders remain skeptical after earlier false dawns. Prices could rebound if talks stall.