# Oil Futures Slump As Iran Peace Efforts Ease Supply Fears

> Brent crude for January fell 7.6% to $104.77 a barrel and WTI for December settled down 7.4% at $96.46. Both benchmarks posted their biggest one-day percentage declines since July 27.

- Date: 2026-11-02 · published 2026-11-03T00:08:10.214Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/76394-oil-futures-slump-as-iran-peace-efforts-ease-supply-fears
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The settlement moves confirm a sharp repricing of crude on peace hopes, lowering energy input costs for feed manufacturing and freight. The move is a price-reporting follow-up to the same session.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Sources

- wsj.com: https://www.wsj.com/world/middle-east/oil-prices-fall-more-than-3-as-iran-peace-talks-ease-supply-fears-e2b47ca0

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