# Brent crude at $105, WTI near $97 after US strike report on Iran's Qeshm Island clouds peace hopes

> Brent and WTI ticked higher on November 3 after reports of a US strike on Iran's Qeshm Island, following a sharp prior-session drop when Brent settled at $104.77. The US described the operation as defensive, aimed at preventing Iranian attacks on commercial vessels in the Strait of Hormuz.

- Date: 2026-11-03 · published 2026-11-03T06:07:15.920Z
- Category: geopolitics · region Middle East · magnitude medium
- Page: https://feedsoft.ai/events/77050-brent-crude-at-105-wti-near-97-after-us-strike-report-on-iran-s-qeshm-island
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Oil is the main cost driver for diesel and freight that shape feed ingredient landed costs. Continued Hormuz disruption keeps upward pressure on energy and logistics costs, while any peace deal would pull prices lower.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2026-08-31 | [Brent nears $90 after US-Iran strikes: Why is crude oil price rising?](https://feedsoft.ai/events/18055-brent-nears-90-after-us-iran-strikes-why-is-crude-oil-price-rising.md) | +10.8% | +22.9% |
| BRENT | 2026-04-02 | [US crude jumps more than 11%, Brent nearly 8% after Trump vows more attacks on Iran \| Reuters](https://feedsoft.ai/events/12724-us-crude-jumps-more-than-11-brent-nearly-8-after-trump-vows-more-attacks-on.md) | -2.8% | +8.2% |
| BRENT | 2025-04-11 | [Brent, WTI prices climb more $1 on possible Iran crude restriction \| Reuters](https://feedsoft.ai/events/25279-brent-wti-prices-climb-more-1-on-possible-iran-crude-restriction-reuters.md) | +6.7% | -0.4% |
| BRENT | 2018-06-25 | [Take a look at the WTI and Brent crude oil prices after OPEC \| IG South Africa](https://feedsoft.ai/events/64676-take-a-look-at-the-wti-and-brent-crude-oil-prices-after-opec-ig-south-africa.md) | +5.1% | -2.8% |
| BRENT | 2025-06-13 | [Oil prices surge after Israel's strike on Iran \| CBC News](https://feedsoft.ai/events/10997-oil-prices-surge-after-israel-s-strike-on-iran-cbc-news.md) | +12.0% | -0.8% |
| WTI | 2026-08-31 | [Brent nears $90 after US-Iran strikes: Why is crude oil price rising?](https://feedsoft.ai/events/18055-brent-nears-90-after-us-iran-strikes-why-is-crude-oil-price-rising.md) | +9.6% | +4.0% |
| WTI | 2026-04-02 | [US crude jumps more than 11%, Brent nearly 8% after Trump vows more attacks on Iran \| Reuters](https://feedsoft.ai/events/12724-us-crude-jumps-more-than-11-brent-nearly-8-after-trump-vows-more-attacks-on.md) | -2.2% | +6.1% |
| WTI | 2025-04-11 | [Brent, WTI prices climb more $1 on possible Iran crude restriction \| Reuters](https://feedsoft.ai/events/25279-brent-wti-prices-climb-more-1-on-possible-iran-crude-restriction-reuters.md) | +7.5% | +2.5% |

## Sources

- moneycontrol.com: https://www.moneycontrol.com/news/business/markets/brent-crude-at-105-wti-near-97-after-us-strike-report-on-iran-s-qeshm-island-clouds-peace-hopes-14067288.html

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