Middle East latest: Oil prices slide more than 3% as Trump signals more time for Iran diplomacy

According to The National, West Texas Intermediate, the gauge that tracks US crude, dropped to $100.90 a barrel.[1] CNBC reports that Brent crude for January delivery fell 3.31% to $109.67 a barrel.[2]Axios reported that Trump told Israeli Prime Minister Benjamin Netanyahu in a Saturday phone call that he preferred to give diplomacy more time before deciding whether to resume military action[3], according to Investing.com. Sunday Guardian Live, citing the same report, says Netanyahu expressed concern over the approach and urged the US to restart military strikes soon after the November 3 midterm elections.[4]CNBC quotes US Secretary of State Marco Rubio as telling reporters that Washington "would prefer to do it peacefully"[2]. The National reports that Trump said he believed the US would soon end the war with Iran, "one way or the other"[1], citing CBS News.According to Bloomberg, as reported by Energy Connects, Iran's Supreme Leader Mojtaba Khamenei ordered his top military commanders to prepare for renewed confrontation with the US and Israel[5], even as his foreign minister pointed to progress in the talks.The National reports that the UK Maritime Trade Operations received a report that a ship had been struck by a projectile in the Strait of Hormuz[1] on Sunday.Florence Schmit, a senior energy strategist at Rabobank, told Bloomberg: "This is a temporary pullback"[5] in prices.