Oil prices fall 3.5%, Brent January contract drops below $110

[Attaqa] Oil prices fell nearly 3.5% during trading on Monday, November 2, 2026, giving up part of last month's gains amid hopes for a political settlement to end the Iran war, according to Attaqa. The report said Iranian and Qatari officials held a third consecutive day of talks aimed at pushing toward an agreement to end the US-Israeli war on Iran.