LNG

Oil prices have plunged on Monday as fresh U.S.-Iran talks raise hopes for a reinstatement of Middle Eastern oil and LNG deliveries. The November Brent contract was seen trading as low as $99.07 barrel at the time of writing, pulling down oil-indexed term LNG prices.

Transits of crude oil and LNG tankers through the Strait of Hormuz have slowed sharply over the weekend as shipowners and operators reacted to latest attacks on tankers and stalled U.S.-Iran talks.