Peace News

Oil prices fell more than 7% on Monday as talks between Iranian and Qatari officials lifted hopes for an end to the US-Israeli war with Iran and stabilization of Middle East crude supply.Iran's president said the supreme leader had granted the government "certain authorities" regarding peace talks. The country's negotiators held days of talks with Qatari mediators aimed at ending the war. A draft proposal is being circulated with a follow-up meeting possible, an official briefed on the talks said.Brent crude futures fell $8.47, or 7.47%, to $104.96 a barrel by 12:24 p.m. EST (1724 GMT).