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Brent traded below $105 a barrel on Tuesday after falling more than 7% in the previous session, and was down about 8.75% over the past week. US crude traded near $96.58.
Iran's president said his government had received greater authority to pursue peace negotiations, and Trump also signalled progress.
Diplomatic progress reduces the risk of supply disruption from the Middle East, pulling crude and diesel costs lower. Lower energy costs ease pressure on feed-mill and farm input budgets, though the premium remains vulnerable to any renewed hostilities.
thoibaonganhang.vnP.LNov 3, 2026
zeebiz.comAnubhav MauryaNov 3, 2026After 255 past bearish geopolitics events, Crude Oil (WTI) moved a median -2.4% over 5 sessions (31% higher; middle half -7.0% to +1.7%), and -5.0% over 20.
After 250 past bearish geopolitics events, Crude Oil (Brent) moved a median -3.1% over 5 sessions (36% higher; middle half -7.9% to +1.6%), and -5.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
