Oil prices dropped more than 4% on Monday as renewed diplomatic efforts to end the U.S.-Iran conflict eased supply fears. Brent fell 4.2% to $108.68, WTI dropped 4.3% to $99.61. Iranian FM Araghchi said talks with Qatari mediators over reopening the Strait of Hormuz continue but no agreement yet. OPEC+ kept December output unchanged. Goldman Sachs raised oil price forecasts, citing persistent Middle East supply risks.
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