Oil Slumps for Fourth Day With Diplomacy and Hormuz in Focus

(Bloomberg) — Oil fell for a fourth day, set for the longest losing run since June, as traders tracked diplomatic efforts to end the US-Iran war and signs that cargoes are still getting through the Strait of Hormuz. Brent dropped toward $101 a barrel, while West Texas Intermediate was below $98. President Donald Trump told Fox News he would “probably” be open to meeting his Iranian counterpart, Masoud Pezeshkian, on the sidelines of the UN General Assembly in New York this week. The US leader will also hold a summit with Chinese President Xi Jinping, and may meet with Persian…