{"id":4118,"date":"2026-11-10T13:03:59","date_gmt":"2026-11-10T08:03:59","guid":{"rendered":"https:\/\/ipp-news.com\/?p=4118"},"modified":"2026-11-10T13:03:59","modified_gmt":"2026-11-10T08:03:59","slug":"oil-falls-as-trump-downplays-prospect-of-escalation-with-iran","status":"publish","type":"post","link":"https:\/\/ipp-news.com\/?p=4118","title":{"rendered":"Oil falls as Trump downplays prospect of escalation with Iran"},"content":{"rendered":"
\n

Oil prices fell on Tuesday, adding to the previous day\u2019s losses after US President Donald Trump downplayed \u200bthe need for military action against Iran<\/u><\/a> \u201cat this point\u201d, easing fears of sustained supply disruptions \u200cin the Middle East.<\/strong><\/p>\n

Brent crude futures declined 70 cents, or 0.75%, to $91.88 a barrel by 0246 GMT, while US West Texas Intermediate (WTI) futures fell 78 cents, or 0.90%, to $86.07 a barrel. Both benchmarks had fallen 1% \u200bearlier in the session.<\/p>\n

Brent settled down 5.85% in the previous session after sliding to \u200bits lowest since August 31.<\/p>\n

Trump said on Monday he plans to hold off \u2060on new military strikes against Iran<\/u><\/a> for the time being after appeals from countries in the \u200bregion, including from Qatar\u2019s prime minister in White House talks.<\/p>\n

Trump, in a Reuters interview and a \u200blater appearance in the White House press briefing room, said he plans to keep up a naval blockade in the Strait of Hormuz for now.<\/p>\n

\u201cThe market continues to prioritise President Trump\u2019s more conciliatory tone toward Iran since \u200bthe midterms,\u201d said Tim Waterer, chief market analyst at KCM Trade.<\/p>\n

\u201cWhile attacks on shipping around the \u200bStrait of Hormuz are still occurring, they have not escalated in a way that has forced a fresh \u200crisk \u2060premium into the market,\u201d he said.<\/p>\n

On the supply side, OPEC<\/u><\/a> oil output rose in October, a Reuters survey found, led by gains in Saudi Arabia, Kuwait and Iraq despite continued constraints on exports.<\/p>\n

Brent has retreated about 22% from the six-month high of $118 it touched on October 30 as fears \u200bthat Trump might step up \u200battacks on Iran \u2060following the US midterms<\/u><\/a> have eased, however there is still concern shipping could be disrupted.<\/p>\n

\u201cDespite the recent selloff, prices are unlikely to fall below $90 \u200bper barrel for Brent without more durable signs of de-escalation and a \u200bUS-Iran deal,\u201d \u2060Gregory Brew, a senior analyst with Eurasia Group, said in a note.<\/p>\n

\u201cAt the same time, risks to shipping remain high, as Iran continues to attack vessels transiting the Strait of Hormuz,\u201d Brew said.<\/p>\n

Elsewhere, \u2060Russian and \u200bUkrainian officials planned to meet on Tuesday for two days of \u200bUS-brokered talks<\/u><\/a> \u2014 their first since February \u2014 after Trump suggested last week that a broad peace deal was possible in their \u200b4-1\/2-year-old war and could incorporate Europe\u2019s security.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Oil prices fell on Tuesday, adding to the previous day\u2019s losses after US President Donald Trump downplayed \u200bthe need for military action against Iran \u201cat this point\u201d, easing fears of sustained supply disruptions \u200cin the Middle East. Brent crude futures declined 70 cents, or 0.75%, to $91.88 a barrel by 0246 GMT, while US West Texas Intermediate (WTI) futures fell 78 cents, or 0.90%, to $86.07 a barrel. Both benchmarks had fallen 1% \u200bearlier in the session. Brent settled down 5.85% in the previous session after sliding to \u200bits lowest…<\/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-4118","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\/4118","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=4118"}],"version-history":[{"count":0,"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts\/4118\/revisions"}],"wp:attachment":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4118"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4118"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4118"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}