Oil Prices Plunge as Draft Proposal to End U.S.-Iran War is Circulated

Oil prices extended losses from Asian trade into early Monday morning U.S. time as a draft proposal on a potential end to the U.S.-Iran war is now being circulated after Iranian negotiators left Qatar, an official briefed on the talks told Reuters on Monday. Oil prices slumped by 3% in Asian trade on Monday amid renewed optimism about a possible peace deal between the United States and Iran, following reports about mediation talks between Iran and Qatar over the weekend. Iranian negotiators left Qatar on Sunday and a draft proposal is now…