# Oil falls as Trump favours Iran diplomacy before midterm elections By Investing.com

> Oil prices fell in Asian trading on Monday as hopes for diplomatic progress eased fears of supply disruption. Brent fell 1.8% to $111.43 and WTI declined 2% to $102.04. Trump reportedly told Netanyahu he preferred to give diplomacy more time before resuming military action.

- Date: 2026-11-02 · published 2026-11-02T03:07:54.137Z
- Category: geopolitics · region Middle East · magnitude medium
- Page: https://feedsoft.ai/events/74650-oil-falls-as-trump-favours-iran-diplomacy-before-midterm-elections-by-investing
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Diplomatic progress lowers the crude risk premium, reducing energy costs for feed logistics. The midterm elections remain a key risk, since military action could resume if talks fail.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2021-10-27 | [Oil Slumps as Iran Nuclear Talks Resurface, US Crude Stocks Rise By Investing.com](https://feedsoft.ai/events/44720-oil-slumps-as-iran-nuclear-talks-resurface-us-crude-stocks-rise-by-investing-com.md) | -1.6% | -8.1% |
| WTI | 2019-04-24 | [Oil falls as supply still adequate despite Iran sanctions, but market tightening - CNBC TV18](https://feedsoft.ai/events/8100-oil-falls-as-supply-still-adequate-despite-iran-sanctions-but-market-tightening.md) | -3.6% | -4.9% |
| WTI | 2022-03-30 | [Asia Session: 'Reduced' Russia Operations Sparks Relief Rally; Dollar Falls \| Investing.com](https://feedsoft.ai/events/42514-asia-session-reduced-russia-operations-sparks-relief-rally-dollar-falls.md) | -2.2% | -2.2% |
| WTI | 2026-03-23 | [Oil Prices Fall More Than 10% After Trump Postpones Iran Strikes](https://feedsoft.ai/events/11451-oil-prices-fall-more-than-10-after-trump-postpones-iran-strikes.md) | +2.2% | -8.1% |
| WTI | 2026-10-29 | [US oil prices fall as investors gauge risks to Mideast supply By Reuters](https://feedsoft.ai/events/252-us-oil-prices-fall-as-investors-gauge-risks-to-mideast-supply-by-reuters.md) | -2.3% | — |
| BRENT | 2021-10-27 | [Oil Slumps as Iran Nuclear Talks Resurface, US Crude Stocks Rise By Investing.com](https://feedsoft.ai/events/44720-oil-slumps-as-iran-nuclear-talks-resurface-us-crude-stocks-rise-by-investing-com.md) | -1.4% | -3.4% |
| BRENT | 2019-04-24 | [Oil falls as supply still adequate despite Iran sanctions, but market tightening - CNBC TV18](https://feedsoft.ai/events/8100-oil-falls-as-supply-still-adequate-despite-iran-sanctions-but-market-tightening.md) | -2.6% | -2.5% |
| BRENT | 2026-03-24 | [Traders bet $500 million on oil price just before Trump's post on delay to Iran attack \| Reuters](https://feedsoft.ai/events/8154-traders-bet-500-million-on-oil-price-just-before-trump-s-post-on-delay-to-iran.md) | +15.1% | +0.4% |

## Sources

- uk.investing.com: https://uk.investing.com/news/commodities-news/oil-falls-as-trump-favours-iran-diplomacy-before-midterm-elections-4947602
- investing.com: https://www.investing.com/news/commodities-news/oil-falls-as-trump-favours-iran-diplomacy-before-midterm-elections-4989799

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