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WTI traded above $96 on Tuesday, recovering part of the previous session's losses that took it to a two-week low near $94.30. Negotiations between Iran and Qatari mediators have not yet produced a breakthrough, though both sides say talks continue.
Hopes of a deal to reopen the Strait of Hormuz are capping crude upside, which eases pressure on diesel and fertiliser costs. Any collapse of talks would quickly restore the risk premium.
fxstreet.comHaresh MenghaniNov 3, 2026
tmgm.comHaresh MenghaniNov 3, 2026tmgm.comHaresh MenghaniNov 3, 2026Not enough comparable past events yet for a historical read.
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.
