Crude oil prices fell following reports that US President Donald Trump wanted more time for diplomatic efforts before he could resume attacks on Iran after Tuesday's midterm elections. The price of Brent crude oil fell more than 3%, falling below $110 a barrel, erasing all Friday's gains; the price of West Texas Intermediate crude also fell below $101 a barrel. Axios quoted unnamed sources as reporting that Trump told Israeli Prime Minister Benjamin Netanyahu on the phone that he would prefer to resolve the issue through diplomatic channels. This strategy worried Netanyahu. The United States and Israel jointly attacked Iran at the end of February, triggering this war. US Secretary of State Marco Rubio said on Saturday that no decision has been made on a new round of attacks, and Trump is inclined to resolve this conflict through diplomatic channels. Although ships near the Strait of Hormuz continue to be attacked, efforts to push for negotiations have allayed market concerns about the resumption of hostilities.

Crude oil prices fell following reports that US President Donald Trump wanted more time for diplomatic efforts before he could resume attacks on Iran after Tuesday's midterm elections. The price of Brent crude oil fell more than 3%, falling below $110 a barrel, erasing all Friday's gains; the price of West Texas Intermediate crude also fell below $101 a barrel. Axios quoted unnamed sources as reporting that Trump told Israeli Prime Minister Benjamin Netanyahu on the phone that he would prefer to resolve the issue through diplomatic channels. This strategy worried Netanyahu. The United States and Israel jointly attacked Iran at the end of February, triggering this war. US Secretary of State Marco Rubio said on Saturday that no decision has been made on a new round of attacks, and Trump is inclined to resolve this conflict through diplomatic channels. Although ships near the Strait of Hormuz continue to be attacked, efforts to push for negotiations have allayed market concerns about the resumption of hostilities.