The Panama-flagged container shipping vessel Ten Neptune transits the Gulf of Oman off the coast of Khor Fakkan in the emirate of Sharjah in the east of the UAE on Oct. 13, 2026.

AFP | Getty Images

Oil fell Monday amid news that both the U.S. and Iran seek diplomatic options to their conflict.

Futures for international benchmark Brent crude for January delivery fell 3.31% to $109.67 a barrel. U.S. West Texas Intermediate futures for December declined 3.34% to $100.64 per barrel.

Stock Chart Icon Stock chart icon

Brent

U.S. Secretary of State Marco Rubio said that President Donald Trump prefers not to use military force and would like to resolve the Iranian war "diplomatically."

Trump "hasn't made a decision...what the president expresses to you is incredible confidence that if we needed to do something militarily, we would have the ability to do it, and we really we have everything we need to be successful.…