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Updated: Oil later fell below $95 a barrel – read the latest.
U.S. crude oil steadied on Tuesday morning, November 3, trading at $97.26 a barrel as of about 8:24 a.m. Eastern, up 0.8 percent from Monday’s official settlement of $96.46, according to CME Group prices. The December contract traded between $96.12 and $98.82 overnight.
The gains followed a reported U.S. strike on Iran’s Qeshm Island and comments from a senior Iranian official that a deal to end the war remained distant, after U.S. crude fell 7.4 percent on Monday.
The United States and Iran are reviewing proposals to bridge their differences, Qatari mediators announced on Monday, though the Iranian official said Tehran would not accept what he called Washington’s “excessive demands.”
JBizNews Desk | New York
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