Oil prices fell in early trading in Asia in hopes that the US and Iran might reach an agreement to ease supply disruptions. US President Trump told reporters on Sunday that the US will begin negotiations with Iran on Monday afternoon. Trump said he was planning to launch the largest military attack since World War II, but was discouraged by America's allies. Oil prices may also be dragged down by OPEC+'s decision to increase oil production by around 188,000 barrels per day in September. West Texas Intermediate crude oil futures fell 4.6% to $80.77 per barrel in recent months; Brent crude oil futures fell 4.5% to $83.98 per barrel in recent months.

Oil prices fell in early trading in Asia in hopes that the US and Iran might reach an agreement to ease supply disruptions. US President Trump told reporters on Sunday that the US will begin negotiations with Iran on Monday afternoon. Trump said he was planning to launch the largest military attack since World War II, but was discouraged by America's allies. Oil prices may also be dragged down by OPEC+'s decision to increase oil production by around 188,000 barrels per day in September. West Texas Intermediate crude oil futures fell 4.6% to $80.77 per barrel in recent months; Brent crude oil futures fell 4.5% to $83.98 per barrel in recent months.