Oil prices tumble as Iran-Qatar talks on ending war show progress
Brent and WTI slide up to 4% as Iranian and Qatari officials hold a third day of talks and circulate a draft proposal to end the US-Israeli war on Iran.
Part of a larger narrative
Trump's Economic Reality Check
- Gas prices hit record high for a U.S. Election Day as voters head to polls
- Oil prices tumble as Iran-Qatar talks on ending war show progressyou are here
- Oil Majors Post Record Profits as Iran War Drives Up Gas Prices
- Brent crude hits $110 for first time since May amid supply risks
What to know
- Brent and WTI crude fell as much as 4% on November 2 to roughly $108.64 and $99.71 a barrel respectively, as Iran-Qatar talks entered a third day with a draft proposal reportedly circulating.
- The decline follows Brent closing October at a six-month high amid fears the US-Israeli war on Iran, ongoing since late February, could escalate further around the US midterm elections.
- Goldman Sachs nonetheless raised its oil forecasts, warning Brent could rise to $140 in 2027 if Gulf supply disruptions and tanker attacks in the Strait of Hormuz persist.
Abbas Araqchi Iranian Foreign MinisterQatari mediators Third-party negotiatorsGoldman Sachs Investment bank / market analystTamas Varga Oil broker, PVMTim Waterer Chief market analyst, KCM Trade
How it unfolded 4 developments, newest first · click a bar or a number to jump articlesposts
-
4
Goldman Sachs warns prices could still spike to $140
Despite the sell-off, Goldman Sachs raised its oil price forecasts, saying Brent could jump to $140 in 2027 if Gulf oil output stays 3.5 million barrels per day below its 2025 average due to elevated supply risks.
“Intensified shipping attacks, damage to oil infrastructure, and a more persistent risk premium remain the key triggers of potential upside…”
— Goldman Sachs -
first by Bangkok Post, 6d ago · also Yahoo Finance, Crude Oil Prices Today | OilPrice.com, Guardian, Channel News Asia, Semafor, Seeking Alpha +1
8 more headlines
- Oil prices slide as hopes rise for potential US-Iran diplomatic breakthrough Yahoo Finance · 6d ago
- Oil Prices Plunge 7% as U.S. and Iran Signal Room for Diplomacy Crude Oil Prices Today | OilPrice.com · 6d ago
- Oil price falls amid hope of a breakthrough to end Iran war Guardian · 6d ago
- Oil prices plunge on US-Iran detente hopes ahead of midterms Yahoo Finance · 5d ago
- Oil prices plunge on US-Iran detente hopes ahead of US midterms Channel News Asia · 5d ago
- Oil prices fall on US-Iran negotiations Semafor · 5d ago
- Oil prices plunge by most since July on renewed hopes for diplomacy in U.S.-Iran war Seeking Alpha · 5d ago
- Oil prices extend losses as hopes grow for US-Iran deal Anadolu Agency · 5d ago
-
BREAKING: President Trump says oil prices are “dropping like a rock” because “people feel there will not be a war with Iran.” “Iran wants a settlement, it could happen,” Trump says.
2 more of the top 3 · 3 posts in this stretch
-
E
Oil prices pull back sharply on signs of US-Iran diplomacy to end war Oil prices have eased back sharply on hopes of progress in US-Iran peace talks and after President Donald… # EuropeSays # Headlines # News # Europe # Europa # EU # Iran
-
F
Crude oil posted its biggest single-day drop since August as the U.S. and Iran signaled openness to diplomatic talks, easing concerns over Middle East supply disruptions. #Oil 🗞️ bloomberg.com
-
-
3
Iran, Qatar hold third day of talks as draft proposal circulates
Iranian negotiators left a third consecutive day of talks with Qatari mediators; an official briefed on the talks said a draft proposal was being circulated with a follow-up meeting possible. Brent fell as much as 4.2% to $108.64 a barrel and WTI fell to $99.71.
“The new month brought with it renewed hopes of a breakthrough in the Iranian stalemate…”
— Tamas Varga, PVM -
first by Yahoo Finance, 6d ago · also Barron's, Arab News, Channel News Asia, Yahoo! Finance Canada, Fox News, Deccan Herald +2
6 more headlines
- Oil Slides on Optimism Over Iran Talks Barron's · 6d ago
- Oil prices ease 3% on optimism for Qatari-led talks on ending Iran war Arab News · 6d ago
- Oil drops more than 4% on talks aimed at ending US-Iran war Channel News Asia · 6d ago
- Oil drops over 4% on hopes of progress in talks on ending US-Iran war Channel News Asia · 6d ago
- Oil drops almost 4% on hopes of progress in talks on ending US-Iran war Channel News Asia · 6d ago
- Oil prices drop amid new US-Iran talks as Trump says 'the hammer' still on the table Fox News · 6d ago
-
-
2
Araqchi says Iran is ready for "defence and diplomacy"
Iranian Foreign Minister Abbas Araqchi said talks with Qatari mediators were "ongoing and progressing" and that Tehran was prepared for both continued fighting and a negotiated settlement.
“both defence and diplomacy…”
— Abbas Araqchi -
background
Brent ends October at a six-month high — Brent crude closed out October at its highest level in six months amid concerns the US-Iran conflict could escalate again after the upcoming US midterm elections.
- 1 day quiet
-
1
Oil slips as reports emerge of continuing Iran-Qatar talks
Wire reports note oil prices easing more than 1% as Iranian and Qatari officials continue discussions aimed at ending the US-Israeli war on Iran.
-
first by NDTV, 6d ago · also Daily Sabah, The Times, Quartz, Yahoo Finance
4 more headlines
- Oil prices fall around 3% amid Iran war peace talks reports | Daily Sabah Daily Sabah · 6d ago
- Oil price falls on optimism talks will bring end to Iran war The Times · 6d ago
- Crude oil sinks more than 7% as U.S.-Iran peace talks ease war fears Quartz · 6d ago
- Oil prices ease 4% on optimism for Qatari-led talks on ending Iran war Yahoo Finance · 5d ago
-
first by Quartz, 6d ago · also Anadolu Agency, WSJ US Business
2 more headlines
- Oil prices plunge 6% as US-Iran diplomacy eases supply fears Anadolu Agency · 6d ago
- Brent crude falls nearly 8% below $105 as US-Iran diplomacy eases supply fears Anadolu Agency · 6d ago
-
Also covered reported alongside — the timeline has no entry for these yet
-
first by Forex Factory, 5d ago · also Trump Truth Social, The Hill, Middle East Eye, Washington Examiner
4 more headlines
- Oil Prices are DROPPING LIKE A ROCK, down almost $10 a Barrel, A RECORD, because people feel that there will not be a War with Iran. Iran wants a settlement, as soon as possible. It could happen! President DONALD J. TRUMP Trump Truth Social · 5d ago
- Trump touts oil price drop on day before election The Hill · 5d ago
- Trump says settlement with Iran possible Middle East Eye · 5d ago
- Trump touts ‘record’ drop in oil prices on election eve, says Iran ‘wants a settlement’ Washington Examiner · 5d ago
-
5 outlets Oil prices today: Crude falls over 1% as Iran-Qatar talks raise hopes of diplomatic progress
first by The Times of India, 6d ago · also Times of India, Semafor, Hindustan Times, Transport Topics
4 more headlines
- Oil prices today: Crude falls over 1% as Iran-Qatar talks raise hopes of diplomacy Times of India · 6d ago
- Oil prices down on hopes of Gulf talks progress Semafor · 6d ago
- Oil prices fall over 4% as US-Iran peace talks raise hopes of easing Middle East supply disruptions Hindustan Times · 6d ago
- Oil prices decline on hopes for progress on Iran war efforts Transport Topics · 6d ago
-
first by Bloomberg.com, 6d ago · also NBC News, The Globe and Mail, Euronext Markets: Real-time Stock Market Data | live
2 more headlines
- Oil prices slide in biggest drop since July on hope for more Iran talks NBC News · 5d ago
- Oil drops 7% as Iran signals openness to peace talks The Globe and Mail · 5d ago
-
first by Daily Caller, 6d ago · also NBC News, FT
2 more headlines
and 5 smaller pieces