{"id":3471,"date":"2026-10-29T10:04:00","date_gmt":"2026-10-29T05:04:00","guid":{"rendered":"https:\/\/ipp-news.com\/?p=3471"},"modified":"2026-10-29T10:04:00","modified_gmt":"2026-10-29T05:04:00","slug":"oil-prices-fall-as-peace-hopes-offset-fears-of-growing-middle-east-conflict","status":"publish","type":"post","link":"https:\/\/ipp-news.com\/?p=3471","title":{"rendered":"Oil prices fall as peace hopes offset fears of growing Middle East conflict"},"content":{"rendered":"
\n

Oil prices \u200bfell on Thursday, paring gains made a day earlier, as hopes for peace talks took the edge \u200coff renewed concerns over Middle East supply disruptions from escalating regional conflict.<\/strong><\/p>\n

Brent crude futures declined $1.22, or 1.1%, to $114.10 a barrel. US West Texas Intermediate (WTI) crude futures were down $1.33, or 1.3%, at $101.45.<\/p>\n

Brent rose 1.3%, and WTI gained 3% on Wednesday.<\/p>\n

Oil prices \u200bfell on Thursday, paring gains made a day earlier, as hopes for peace talks took the edge \u200coff renewed concerns over Middle East supply disruptions from escalating regional conflict.<\/p>\n

Brent crude futures declined $1.22, or 1.1%, to $114.10 a barrel. US West Texas Intermediate (WTI) crude futures were down $1.33, or 1.3%, at $101.45.<\/p>\n

Brent rose 1.3%, and WTI gained 3% on Wednesday.<\/p>\n

The Houthis attacked Aden airport on Wednesday, Yemeni government forces said.<\/p>\n

The attack came \u200ba day after the Houthis said they hit<\/a> Saudi Arabia\u2019s biggest oil refinery with a missile, stepping up strikes against the \u200bworld\u2019s second-largest crude producer after the United States.<\/p>\n

Saudi authorities did not immediately confirm the strike on the 550,000-barrel-per-day facility.<\/p>\n

Qatari mediators have presented Iran \u200cwith a new \u2060draft deal<\/a> to end the war with the US and Israel, an official briefed on the negotiations said, but a senior Iranian official dismissed it as unacceptable ideas that did not amount to an offer.<\/p>\n

Iran\u2019s foreign minister said on Wednesday Tehran continued to give diplomacy a chance to succeed and flagged the possibility of completing its seven-day plan in less than a week \u200bif adopted.<\/p>\n

Some expectations of rising \u200bcrude and diesel production from \u2060Russia weighed further on market sentiment and prices.<\/p>\n

\u201cSince the October 15 strike on the Ryazan refinery, there have been no further confirmed attacks on Russian refining infrastructure,\u201d JPMorgan analysts said in \u200ba note last night.<\/p>\n

\u201cThe silence has allowed Russian refinery runs to rebound by 350 kbd \u200blast week to \u20604 mbd.\u201d<\/p>\n

\u201cHigher runs would also allow Russia to lift crude production by a broadly comparable amount, reversing part of the recent decline that pushed output to 8.4 mbd\u2014its lowest level since 2003 \u2026 (but) higher crude production would not necessarily translate into higher crude exports.\u201d<\/p>\n

The US \u2060Energy Information \u200bAdministration said on Wednesday that energy firms pulled 1.9 million barrels of \u200bcrude from storage during the week ended October 23, versus analysts\u2019 forecast of a 15,000-barrel build in a Reuters poll.<\/p>\n

But gasoline stockpiles rose by 3.9 million \u200bbarrels, against analysts\u2019 expectations for a draw of 0.9 million barrels.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Oil prices \u200bfell on Thursday, paring gains made a day earlier, as hopes for peace talks took the edge \u200coff renewed concerns over Middle East supply disruptions from escalating regional conflict. Brent crude futures declined $1.22, or 1.1%, to $114.10 a barrel. US West Texas Intermediate (WTI) crude futures were down $1.33, or 1.3%, at $101.45. Brent rose 1.3%, and WTI gained 3% on Wednesday. Oil prices \u200bfell on Thursday, paring gains made a day earlier, as hopes for peace talks took the edge \u200coff renewed concerns over Middle East…<\/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-3471","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\/3471","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=3471"}],"version-history":[{"count":0,"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts\/3471\/revisions"}],"wp:attachment":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3471"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3471"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3471"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}