Crude oil prices dropped by more than 5% on Monday after reports that Washington informed Tehran that United States President Donald Trump’s administration is ready to meet with Iranian officials and negotiate a nuclear deal. West Texas Intermediate (WTI) for deliveries in March fell by 5.05% % at 3:20 am ET, going for $61.92 per barrel. Meanwhile, Brent for settlements in April slid by 4.75% to go for $66.03 per barrel t 3:22 am ET.