{"id":3305,"date":"2026-10-26T10:03:46","date_gmt":"2026-10-26T05:03:46","guid":{"rendered":"https:\/\/ipp-news.com\/?p=3305"},"modified":"2026-10-26T10:03:46","modified_gmt":"2026-10-26T05:03:46","slug":"oil-drops-from-near-six-month-highs-on-hopes-iran-war-hostilities-to-ease","status":"publish","type":"post","link":"https:\/\/ipp-news.com\/?p=3305","title":{"rendered":"Oil drops from near six-month highs on hopes Iran war hostilities to ease"},"content":{"rendered":"
\n

Oil prices fell on Monday after surging last \u200cweek to near six-month highs, amid hopes of easing hostilities between the United States and Iran, although persistent attacks on key producer Saudi Arabia kept investors wary.<\/strong><\/p>\n

US West Texas Intermediate crude futures were down $2.23, or 2.16%, at $101.04 per barrel. Brent crude futures were down $2.21, or 1.89%, at $114.51.<\/p>\n

On Friday, prices settled<\/a> nearly $3 higher after Houthi attacks \u200bin Saudi Arabia stoked energy supply concerns. Brent finished the week up 6%, and \u2060WTI ended 2.3% higher.<\/p>\n

On Sunday, Qatari mediators travelled to Tehran as part of an effort to de-escalate regional \u200btensions in coordination with the United States, an official briefed on the situation said.<\/p>\n

\u201cConcerns over renewed military hostilities in \u200bthe Middle East, which drove much of last week\u2019s crude rally, have eased this morning, but the reprieve may prove temporary,\u201d said Vandana Hari, founder of oil market analysis provider Vanda Insights.<\/p>\n

Hari said US President Donald Trump has not dispelled \u200bmarket expectations that strikes on Iran could still follow after the November 3 midterm elections.<\/p>\n

\u201cWe therefore expect volatility \u200bto remain elevated, with risks still skewed to the upside,\u201d she added.<\/p>\n

Despite the mediation talks, attacks continued over the weekend with the \u200cIran-backed Houthis saying \u2060they struck an airport and oil facilities in Saudi Arabia on Saturday.<\/p>\n

Saudi Arabia said on Sunday it had intercepted more missiles and drones.<\/p>\n

The effects of the US-Israeli war on Iran that began on February 28 continue to reverberate as companies adjust to the disruptions of commercial shipping through the key Strait of Hormuz and Bab el-Mandeb \u200bStrait caused by the conflict.<\/p>\n

On \u200bMonday, the energy ministers \u2060from Saudi Arabia and Singapore said state-owned oil company Saudi Aramco will start storing<\/a> crude oil in Singapore from the second half of 2027, to shore up the resilience of Aramco\u2019s supply chain \u200bin the region.<\/p>\n

\u201cWhile supply risks surrounding the Strait of Hormuz remain firmly entrenched, \u200bthe current pullback \u2060appears more reflective of position adjustments and risk management rather than any meaningful improvement in the underlying supply situation,\u201d said Priyanka Sachdeva, head of market insight at Phillip Nova.<\/p>\n

The head<\/a> of the International Energy Agency, Fatih Birol, reinforced \u2060the concerns \u200babout the supply situation, saying on Monday at an industry event \u200bin Singapore that he does not expect energy markets in 2027 to return to where they were before the Iran war.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Oil prices fell on Monday after surging last \u200cweek to near six-month highs, amid hopes of easing hostilities between the United States and Iran, although persistent attacks on key producer Saudi Arabia kept investors wary. US West Texas Intermediate crude futures were down $2.23, or 2.16%, at $101.04 per barrel. Brent crude futures were down $2.21, or 1.89%, at $114.51. On Friday, prices settled nearly $3 higher after Houthi attacks \u200bin Saudi Arabia stoked energy supply concerns. Brent finished the week up 6%, and \u2060WTI ended 2.3% higher. On Sunday,…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-3305","post","type-post","status-publish","format-standard","hentry","category-english"],"gutentor_comment":0,"_links":{"self":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts\/3305","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3305"}],"version-history":[{"count":0,"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts\/3305\/revisions"}],"wp:attachment":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3305"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3305"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3305"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}