Oil prices drop 6% on hopes of fresh US-Iran talks

Crude oil prices slid further on Monday as hopes grew for new talks between the United States and Iran aimed at ending the Middle East conflict. Brent crude, the main international benchmark, fell 6.1% to $106.54 a barrel, while US West Texas Intermediate dropped 6.3% to $97.56. Futures had already been down about 4% earlier in the day on the diplomatic prospects.