Economy / Markets
Oil falls as Washington signals more time for Iran diplomacy
Brent crude dropped 2.9% to $110.19 a barrel and West Texas Intermediate fell 3% to $100.99 after reports that President Donald Trump wants to give diplomacy more time before deciding whether to resume strikes on Iran following Tuesday's midterm elections. Spot gold rose 0.6% to $3,899.61 an ounce after closing at its lowest level in more than a year on Friday, and the dollar was little changed against major peers.