# Commodities: False U.S.-Iran Hopes Or The Real Deal?

> ING's commodities commentary questions whether recent hopes for a US-Iran deal are genuine, following sharp swings in oil prices tied to peace talk headlines.

- Date: 2026-11-03 · published 2026-11-03T09:14:31.845Z
- Category: geopolitics · region Middle East · magnitude low
- Page: https://feedsoft.ai/events/77455-commodities-false-u-s-iran-hopes-or-the-real-deal
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md), [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)

## Why it matters

If diplomacy stalls, Middle East supply risk returns and crude and diesel prices can rebound quickly, which feeds into feed-ingredient costs through energy and freight.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼
- NATGAS: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2020-02-07 | [The Commodities Feed: More OPEC+ cuts coming \| snaps \| ING THINK](https://feedsoft.ai/events/54748-the-commodities-feed-more-opec-cuts-coming-snaps-ing-think.md) | +1.4% | -6.8% |
| NATGAS | 2026-02-02 | [Oil Falls 5%, ULSD Tumbles 14% on De-Risking Over Iran](https://feedsoft.ai/events/5923-oil-falls-5-ulsd-tumbles-14-on-de-risking-over-iran.md) | -30.8% | -46.8% |
| NATGAS | 2026-05-06 | [Oil and gas prices fall sharply, driven by hopes of strait of Hormuz reopening – as it happened \| Business \| The Guardian](https://feedsoft.ai/events/9584-oil-and-gas-prices-fall-sharply-driven-by-hopes-of-strait-of-hormuz-reopening.md) | +2.4% | +10.0% |
| NATGAS | 2026-04-17 | [Oil settles down 9% after Iran declares Strait of Hormuz open \| Reuters](https://feedsoft.ai/events/8807-oil-settles-down-9-after-iran-declares-strait-of-hormuz-open-reuters.md) | -3.0% | +4.7% |
| NATGAS | 2026-05-06 | [Brent Crude Price: Oil and gas plunge after report US and Iran near deal to end war](https://feedsoft.ai/events/9582-brent-crude-price-oil-and-gas-plunge-after-report-us-and-iran-near-deal-to-end.md) | +2.4% | +10.0% |
| WTI | 2019-04-29 | [The Commodities Feed: Trump demands & Russian oil \| snaps \| ING THINK](https://feedsoft.ai/events/7601-the-commodities-feed-trump-demands-and-russian-oil-snaps-ing-think.md) | -2.1% | -7.6% |
| WTI | 2026-07-27 | [The Commodities Feed: Oil slumps as the US and Iran pause strikes \| articles \| ING THINK](https://feedsoft.ai/events/8281-the-commodities-feed-oil-slumps-as-the-us-and-iran-pause-strikes-articles-ing.md) | -5.8% | -4.1% |
| WTI | 2022-03-10 | [The Commodities Feed: Sell-off across the complex \| ING THINK](https://feedsoft.ai/events/4722-the-commodities-feed-sell-off-across-the-complex-ing-think.md) | -12.7% | -11.4% |

## Sources

- seekingalpha.com: https://seekingalpha.com/article/4961292-commodities-false-us-iran-hopes-or-real-deal
- think.ing.com: https://think.ing.com/articles/the-commodities-feed-false-hopes-or-the-real-deal031126/

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