{"id":3338,"date":"2026-10-27T10:03:54","date_gmt":"2026-10-27T05:03:54","guid":{"rendered":"https:\/\/ipp-news.com\/?p=3338"},"modified":"2026-10-27T10:03:54","modified_gmt":"2026-10-27T05:03:54","slug":"oil-prices-slip-on-peace-hopes-saudi-attacks-fuel-supply-fears","status":"publish","type":"post","link":"https:\/\/ipp-news.com\/?p=3338","title":{"rendered":"Oil prices slip on peace hopes, Saudi attacks fuel supply fears"},"content":{"rendered":"
\n

Oil prices edged lower on Tuesday as the potential for a \u200cresolution in the US-Israeli war on Iran kept supply fears at bay, but Brent stayed close to six-month highs as attacks on Saudi Arabia lowered hopes of immediate stability in the region.<\/strong><\/p>\n

Brent crude \u200bfutures were down 66 cents, or 0.57%, at $115.15 a barrel, while US West Texas Intermediate crude was down 44 cents, \u2060or 0.43%, at $101.32.<\/p>\n

Saudi Arabia, Turkey and Pakistan held talks with Iranian officials \u200bin Tehran on Monday aimed at easing tensions<\/a> in the Middle East.<\/p>\n

Saudi Arabia said \u200bthe visit sought to establish open negotiating channels to \u201cprevent the return of military escalation\u201d.<\/p>\n

The four countries agreed to continue talks with a view to strengthening cooperation in peace and security, \u200bIranian state media reported.<\/p>\n

Hopes of resolution in the conflict erased some fears of \u200bsupply disruption, lowering risks and pressuring oil prices.<\/p>\n

However, losses were limited as the scope for peace looked \u200cfragile, \u2060with renewed attacks<\/a> by Iran-aligned Houthis on key producer Saudi Arabia.<\/p>\n

October has been the worst month for attacks on commercial shipping in the Strait of Hormuz and nearby waterways, according to data compiled by a Washington-based think tank that has tracked maritime security incidents worldwide \u200bsince 2017.<\/p>\n

The war \u200bhas rippled across \u2060the Middle East, placing the Strait of Hormuz at the centre of the turmoil.<\/p>\n

The narrow waterway carried around a \u200bfifth of the world\u2019s energy supplies before the conflict erupted in \u200bFebruary.<\/p>\n

Last \u2060week, Brent prices surged to more than $117 a barrel, the highest level since April, after a wave of Iranian attacks on tankers around the strait. Brent prices touched $117 on Monday \u2060as \u200bwell.<\/p>\n

Elsewhere, Russian refiners<\/a> are raising diesel production in October \u200bafter the government granted export quotas following the Kremlin\u2019s supply agreement with the US, two industry sources \u200bclose to the matter said.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Oil prices edged lower on Tuesday as the potential for a \u200cresolution in the US-Israeli war on Iran kept supply fears at bay, but Brent stayed close to six-month highs as attacks on Saudi Arabia lowered hopes of immediate stability in the region. Brent crude \u200bfutures were down 66 cents, or 0.57%, at $115.15 a barrel, while US West Texas Intermediate crude was down 44 cents, \u2060or 0.43%, at $101.32. Saudi Arabia, Turkey and Pakistan held talks with Iranian officials \u200bin Tehran on Monday aimed at easing tensions in the…<\/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-3338","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\/3338","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=3338"}],"version-history":[{"count":0,"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts\/3338\/revisions"}],"wp:attachment":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3338"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3338"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3338"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}