# Euro holds modest gains as Oil prices tumble on US-Iran diplomacy

> EUR/USD held modest gains near 1.1200 as the US dollar pared earlier declines. WTI fell more than 5% to near $96 a barrel after positive US-Iran diplomatic headlines, while Iran's president said the Supreme Leader had granted the government powers over negotiations.

- Date: 2026-11-02 · published 2026-11-02T21:10:30.748Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/75879-euro-holds-modest-gains-as-oil-prices-tumble-on-us-iran-diplomacy
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Lower crude reduces inflation and energy-cost pressure, which weighs on diesel and freight costs for feed supply chains and eases the stagflation worry behind the dollar's safe-haven bid. A sustained oil decline would reduce input costs for feed producers.

## Read by commodity

- DXY: bearish ▼
- WTI: bearish ▼
- BRENT: bearish ▼
- DIESEL: bearish ▼
- EURUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-04-17 | [Oil prices: Oil tumbles more than 10% as Iran declares Strait of Hormuz open](https://feedsoft.ai/events/8808-oil-prices-oil-tumbles-more-than-10-as-iran-declares-strait-of-hormuz-open.md) | +2.3% | +7.9% |
| 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 | 2025-06-23 | [Oil prices tumble as Iran signals de-escalation with limited missile attack \| AP News](https://feedsoft.ai/events/9613-oil-prices-tumble-as-iran-signals-de-escalation-with-limited-missile-attack-ap.md) | -12.2% | -9.7% |
| WTI | 2026-04-08 | [Oil prices plunge on Trump's US-Iran ceasefire post](https://feedsoft.ai/events/6900-oil-prices-plunge-on-trump-s-us-iran-ceasefire-post.md) | -18.9% | -8.3% |
| WTI | 2025-05-27 | [Oil prices ease as US-Iran talks, OPEC+ plans spur supply concerns](https://feedsoft.ai/events/24853-oil-prices-ease-as-us-iran-talks-opec-plans-spur-supply-concerns.md) | +0.9% | +4.3% |
| BRENT | 2026-04-17 | [Oil prices: Oil tumbles more than 10% as Iran declares Strait of Hormuz open](https://feedsoft.ai/events/8808-oil-prices-oil-tumbles-more-than-10-as-iran-declares-strait-of-hormuz-open.md) | +1.3% | +0.6% |
| 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 | 2025-06-23 | [Oil prices tumble as Iran signals de-escalation with limited missile attack \| AP News](https://feedsoft.ai/events/9613-oil-prices-tumble-as-iran-signals-de-escalation-with-limited-missile-attack-ap.md) | -11.9% | -9.9% |

## Sources

- fxstreet.com: https://www.fxstreet.com/news/euro-holds-modest-gains-as-oil-prices-tumble-on-us-iran-diplomacy-202611021638

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