Oil prices plunged nearly 7% on Monday after Washington and Tehran both signaled they would give diplomacy a chance, wiping out part of the war premium that lifted crude through October. Brent traded at $105.60 per barrel, down $7.85, and WTI fell $7.20 to $96.92.
A year after forecasting that oil demand would keep rising until 2040, TotalEnergies has moved its peak forward to between 2035 and 2040, and says the Iran war could accelerate the energy transition.
Curious Minds Corner
What petroleum product was once so low in value that it was
sometimes discarded into rivers?
Gasoline, before the automobile created large-scale demand for it.