Oil prices fell sharply early on Monday amid reports that both the U.S. and Iran are seeking diplomatic options to bring an end to the Middle East conflict. Futures for international benchmark Brent crude for January delivery fell 3.91% to $109.00 a barrel as of 4:07 a.m. ET. U.S. West Texas Intermediate futures for December declined 4.1% to $99.85 per barrel. 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.
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