Oil prices are falling sharply on Monday morning amid hopes for a settlement of the conflict in the Middle East.

Accordingly, the price of October futures for Brent crude oil is $83.22 per barrel on the ICE Futures stock exchange in London, which is $4.71 (5.36%) lower than the close of the previous trading session. On Friday it had risen by $1.05 (1.2%) to $87.93 per barrel.

And the price of September futures for WTI crude oil fell by $5.2 (6.14%) to $87.93 per barrel in online trading on the New York Mercantile Exchange (NYMEX). In the previous trading session, their price had increased by $1.08 (1.29%), reaching $84.67 per barrel.