Brent Crude Oil Price: $110 Monday After OPEC+ Holds…
By Tobi Opeyemi Amure
AI summary of the source article
Brent crude traded near $110 a barrel on Monday, down around 3 percent. OPEC+ left December output targets unchanged, while market focus shifted to a Qatari-brokered proposal to reopen the Strait of Hormuz.
Key facts
- Brent crude dropped roughly 3 percent to trade near $110 a barrel following Friday's $113.43 settlement.
- OPEC+ members kept December oil production targets unchanged during an online meeting on 1 November.
- Iran stated a Qatari-brokered plan could reopen the Strait of Hormuz within two days, though Washington has not publicly responded.
Source excerpt · FinanceFeeds
Updated 2 November 2026. Brent crude is trading near $110 a barrel on Monday, down about 3 percent from Friday's $113.43 January settlement (Trading Economics, 2 November); Reuters had Brent down 3.2 percent at $109.75 by 04:07 GMT. OPEC+ kept December output targets unchanged on Sunday, as expected, so the drop is about Iran: Tehran says a Qatari-brokered plan could reopen the Strait of Hormuz wi…