Sudden drop in prices. The market is changing direction

Oil prices fell on Monday, with WTI at $100.76 and Brent at $110.09 per barrel. President Trump is considering extending diplomatic negotiations with Iran before potential military actions post-midterm elections. Despite ongoing tensions, analysts note a temporary easing of concerns regarding renewed conflict, although attacks on shipping in the Strait of Hormuz continue. Qatar is mediating between the U.S. and Iran, but Tehran remains firm on its nuclear stance. Goldman Sachs has raised its Brent price forecast to $105 per barrel for December, citing geopolitical risks from conflicts in the Middle East and Ukraine.