# Crude oil slips below $102, Brent near $114: Will oil prices cool or rise further? World Bank explains

> Crude oil prices declined on Thursday as investors assessed renewed diplomatic contacts between US and Iranian officials aimed at preventing further Middle East escalation. US crude fell 1.28% to $101.46 per barrel and Brent fell 1.02% to $114.15. Both benchmarks had gained over the prior week.

- Date: 2026-10-29 · published 2026-10-29T06:05:59.333Z
- Category: geopolitics · region Middle East · magnitude medium
- Page: https://feedsoft.ai/events/258-crude-oil-slips-below-102-brent-near-114-will-oil-prices-cool-or-rise-further
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Diplomatic progress reduces supply-disruption fears in the Middle East, easing energy costs, though persistent shipping-route concerns limit the downside and keep energy input costs elevated for feed makers.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2024-04-18 | [Crude oil prices today: WTI falls below $83 as war fear eases](https://feedsoft.ai/events/30929-crude-oil-prices-today-wti-falls-below-83-as-war-fear-eases.md) | +0.1% | -8.0% |
| BRENT | 2026-05-06 | [Brent Crude Price: Oil and gas plunge after report US and Iran near deal to end war](https://feedsoft.ai/events/9582-brent-crude-price-oil-and-gas-plunge-after-report-us-and-iran-near-deal-to-end.md) | -2.3% | -11.1% |
| BRENT | 2020-03-18 | [Brent crude futures hit 16-year low below $27.00/b \| S&P Global](https://feedsoft.ai/events/7661-brent-crude-futures-hit-16-year-low-below-27-00-b-s-and-p-global.md) | -9.0% | -17.4% |
| BRENT | 2024-09-03 | [Crude oil prices today: WTI erases all 2024 gains](https://feedsoft.ai/events/12385-crude-oil-prices-today-wti-erases-all-2024-gains.md) | -7.9% | -8.0% |
| BRENT | 2026-10-29 | [Brent crude falls below $115, WTI near $101 as US-Iran peace hopes offset fears of growing Middle East conflict](https://feedsoft.ai/events/254-brent-crude-falls-below-115-wti-near-101-as-us-iran-peace-hopes-offset-fears-of.md) | -5.4% | — |
| WTI | 2024-04-18 | [Crude oil prices today: WTI falls below $83 as war fear eases](https://feedsoft.ai/events/30929-crude-oil-prices-today-wti-falls-below-83-as-war-fear-eases.md) | +0.5% | -4.3% |
| WTI | 2026-05-06 | [Brent Crude Price: Oil and gas plunge after report US and Iran near deal to end war](https://feedsoft.ai/events/9582-brent-crude-price-oil-and-gas-plunge-after-report-us-and-iran-near-deal-to-end.md) | +0.0% | -5.8% |
| WTI | 2020-03-18 | [Brent crude futures hit 16-year low below $27.00/b \| S&P Global](https://feedsoft.ai/events/7661-brent-crude-futures-hit-16-year-low-below-27-00-b-s-and-p-global.md) | -18.5% | -26.1% |

## Sources

- zeebiz.com: https://www.zeebiz.com/markets/commodities/news-crude-oil-slips-below-102-brent-near-114-will-oil-prices-cool-or-rise-further-world-bank-explains-404748

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.