Crude prices slide as investors brace for a big week

This is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox.Hello, this is Leonie Kidd with today's edition of Morning Squawk. Markets are ready to turn over a new leaf in November, with futures higher after closing out a tough October. This week brings a raft of market moments, with more Magnificent Seven earnings, the midterms, and a payrolls data day on Friday. Buckle up, it's another big week. Happening now: Crude realitiesOil prices are at the center of the price action, with both Brent and WTI falling over 4% in early trade. The move comes as negotiators renewed diplomatic efforts to ease tensions with Iran. According to Reuters, a draft proposal is being circulated after another round of talks in Doha on Sunday.In an aerial view, Marathon Petroleum Corp's Los Angeles Refinery, one of the largest oil refineries in the North America, operates as gas prices rocket upward due to worldwide oil supply disruptions caused by the U.S. and Israeli attack on Iran, on March 10, 2026 in Carson, California.David Mcnew | Getty Images News | Getty ImagesU.S. Secretary of State Marco Rubio told reporters this weekend that President Donald Trump would pre...