# Crude Oil Prices Fall Nearly 3%: Brent below $110 as Hormuz tensions, US-Iran talks in focus

> Crude oil fell nearly 3% on Monday, with WTI trading at $101.01 and Brent falling $3.47 to $109.96. Investors weighed Iran-Qatar diplomatic consultations against the risk of renewed US military action against Iran. Brent was down 3.84% over the past week, while WTI was marginally higher on a weekly basis.

- Date: 2026-11-02 · published 2026-11-02T06:07:55.451Z
- Category: geopolitics · region Middle East · magnitude medium
- Page: https://feedsoft.ai/events/74902-crude-oil-prices-fall-nearly-3-brent-below-110-as-hormuz-tensions-us-iran-talks
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Diplomatic hopes are reducing the energy risk premium, which lowers diesel and fertilizer cost expectations for feed. Renewed military action would reverse this move and tighten supply.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2026-04-13 | [Oil prices fall as supply concerns ease on hopes for US-Iran talks - CNA](https://feedsoft.ai/events/10085-oil-prices-fall-as-supply-concerns-ease-on-hopes-for-us-iran-talks-cna.md) | -11.3% | -3.8% |
| 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 | 2026-03-23 | [Brent Below $100 on Oil, Fuel Swing; US Cites Iran Talks](https://feedsoft.ai/events/8540-brent-below-100-on-oil-fuel-swing-us-cites-iran-talks.md) | +1.5% | -13.8% |
| BRENT | 2026-05-21 | [Oil falls with US-Iran peace talks in focus](https://feedsoft.ai/events/12489-oil-falls-with-us-iran-peace-talks-in-focus.md) | -11.6% | -25.6% |
| 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 | 2026-04-13 | [Oil prices fall as supply concerns ease on hopes for US-Iran talks - CNA](https://feedsoft.ai/events/10085-oil-prices-fall-as-supply-concerns-ease-on-hopes-for-us-iran-talks-cna.md) | -12.8% | -0.0% |
| 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 | 2026-03-23 | [Brent Below $100 on Oil, Fuel Swing; US Cites Iran Talks](https://feedsoft.ai/events/8540-brent-below-100-on-oil-fuel-swing-us-cites-iran-talks.md) | +2.2% | -8.1% |

## Sources

- zeebiz.com: https://www.zeebiz.com/markets/commodities/news-crude-oil-prices-fall-nearly-3-below-102-as-hormuz-tensions-us-iran-talks-in-focus-404911

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