Oil prices fell sharply on Monday amid hopes of a diplomatic resolution to the conflict in the Middle East. January Brent futures dropped 3.91% to $109 per barrel, while December West Texas Intermediate futures declined 4.1% to $99.85. U.S. Secretary of State Marco Rubio said Donald Trump prefers a peaceful solution, while Iran indicated that a deal remained possible after two days of talks mediated by Qatar. These developments came amid military preparations and continuing concerns about the conflicts in the Middle East and Ukraine.
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