Oil price falls amid hope of a breakthrough to end Iran war

Brent crude drops by more than 6% to $105.55 a barrel, the lowest level in more than two weeks

The oil price has fallen to its lowest level in more two weeks amid new hopes of a breakthrough to end the Iran war.

Brent crude, the international benchmark, dropped by more than 6.5% to as low as $105.55 a barrel on Monday, the lowest since 16 October, sending shares in airline companies higher and pushing down government borrowing costs.