# Oil Price Today (November 2): Crude oil falls to $111 as Iran-Qatar talks continue to end war. What are experts saying? - The Economic Times

> Crude oil fell to about $111 for Brent and $102 for WTI on November 2 as Iranian and Qatari officials continued talks to end the war. Brent had ended October at a six-month high. Analysts warned of price instability after the US midterm elections.

- Date: 2026-11-02 · published 2026-11-02T03:07:54.086Z
- Category: geopolitics · region Middle East · magnitude medium
- Page: https://feedsoft.ai/events/74649-oil-price-today-november-2-crude-oil-falls-to-111-as-iran-qatar-talks-continue
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Lower crude prices from diplomatic progress ease fuel and freight costs for feed producers. Renewed hostilities after the elections could lift prices again.

## 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 | 2026-02-02 | [Oil prices fall nearly 5%, below $62/bbl on US‑Iran de‑escalation - The Economic Times](https://feedsoft.ai/events/8801-oil-prices-fall-nearly-5-below-62-bbl-on-us-iran-de-escalation-the-economic.md) | -3.1% | +0.6% |
| BRENT | 2025-06-24 | [Oil prices are falling so much it’s now cheaper than it was before the Iran-Israel conflict \| CNN Business](https://feedsoft.ai/events/9614-oil-prices-are-falling-so-much-it-s-now-cheaper-than-it-was-before-the-iran.md) | -6.9% | -3.2% |
| BRENT | 2026-03-24 | [Oil prices drop 2% as Iran considers US proposal to end war \| Reuters](https://feedsoft.ai/events/8151-oil-prices-drop-2-as-iran-considers-us-proposal-to-end-war-reuters.md) | +15.1% | +0.4% |
| BRENT | 2026-10-29 | [Crude oil futures fall as US seeks to revive Iran peace talks - The HinduBusinessLine](https://feedsoft.ai/events/255-crude-oil-futures-fall-as-us-seeks-to-revive-iran-peace-talks-the.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 | 2026-02-02 | [Oil prices fall nearly 5%, below $62/bbl on US‑Iran de‑escalation - The Economic Times](https://feedsoft.ai/events/8801-oil-prices-fall-nearly-5-below-62-bbl-on-us-iran-de-escalation-the-economic.md) | -1.6% | +9.9% |
| WTI | 2025-06-24 | [Oil prices are falling so much it’s now cheaper than it was before the Iran-Israel conflict \| CNN Business](https://feedsoft.ai/events/9614-oil-prices-are-falling-so-much-it-s-now-cheaper-than-it-was-before-the-iran.md) | -4.6% | -1.6% |

## Sources

- economictimes.indiatimes.com: https://economictimes.indiatimes.com/markets/commodities/news/oil-price-today-november-2-crude-oil-falls-to-111-as-iran-qatar-talks-continue-to-end-war-what-are-experts-saying/articleshow/135442213.cms

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