Oil eased from near a six-month high.

NEW DELHI — Oil eased Monday from near a six-month high, before the New York open. By 7:44 a.m. GMT, West Texas Intermediate was down $1.76, or 1.7 percent, at $101.51, and Brent was down $1.49, or 1.28 percent, at $115.23, Reuters reported. This is the morning print. It is not a settlement. On Friday prices settled nearly $3 higher after Houthi attacks in Saudi Arabia. Brent finished last week up 6 percent. West Texas Intermediate finished up 2.3 percent.

Qatari mediators traveled to Tehran on Sunday to try to de-escalate with the United States. “Concerns over renewed military hostilities in the Middle East, which drove much of last week’s crude rally, have eased this morning, but the reprieve may prove temporary,” said Vandana Hari of Vanda Insights. “We therefore expect volatility to remain elevated, with risks still skewed to the upside,” she said. She said the president has not dispelled the idea that strikes on Iran could still follow the Nov. 3 election. The war note carries the Houthi claim. This note is the price.

The reprieve may prove temporary.

The photograph is a file from Sept. 28, 2026. Brendan McDermid of Reuters made it. A trader in a headset leans on the New York Stock Exchange floor, a flag behind him. It is not Monday’s oil, and it is not a pumpjack.