Oil Prices Tumble 10% on Middle East Peace Hopes

Oil fell more than 10% Monday, with Brent dropping below $105 a barrel after a six-month high of $118 last week. The Daily Mail says Iranian and Qatari officials entered a third day of peace talks, and Trump reportedly pushed for negotiations. Peace through strength keeps working on a trading screen, while the Left's peace through committee meetings never moved a barrel of anything. Traders heard the word peace and sold like a heifer that smelled the open gate. Goldman Sachs still warns oil could hit $140 next year unless regional output rebounds, which is a long way to go on one peace talk. Around here, when somebody says the fence is fixed, you go check it anyway, and Wall Street should have done the same.