# Oil prices ease to nearly four-week low amid peace talks

> Oil prices eased about 1% to a nearly four-week low on Tuesday as Qatar-mediated talks continued between the US and Iran, which remain far apart on a deal. Brent was heading for its lowest close since October 7 and WTI for its lowest since October 14.

- Date: 2026-11-03 · published 2026-11-04T00:10:29.400Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/78568-oil-prices-ease-to-nearly-four-week-low-amid-peace-talks
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Lower crude reduces the energy and fertilizer cost pressure on feed margins, but ING notes that escalation risk has not passed, so prices could rebound.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼
- DIESEL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2024-08-01 | [Oil prices fall 2% to six-week low on ceasefire talks, demand concerns](https://feedsoft.ai/events/29442-oil-prices-fall-2-to-six-week-low-on-ceasefire-talks-demand-concerns.md) | -3.4% | -4.7% |
| WTI | 2026-04-10 | [Oil Eyes Large Weekly Loss Amid Fragile Iran Peace Hopes](https://feedsoft.ai/events/10139-oil-eyes-large-weekly-loss-amid-fragile-iran-peace-hopes.md) | -3.2% | -1.9% |
| WTI | 2025-05-27 | [Oil prices ease as US-Iran talks, OPEC+ plans spur supply concerns](https://feedsoft.ai/events/24853-oil-prices-ease-as-us-iran-talks-opec-plans-spur-supply-concerns.md) | +0.9% | +4.3% |
| WTI | 2026-04-13 | [Oil prices fall as supply concerns ease on hopes for US-Iran talks - CNA](https://feedsoft.ai/events/10085-oil-prices-fall-as-supply-concerns-ease-on-hopes-for-us-iran-talks-cna.md) | -12.8% | -0.0% |
| WTI | 2024-04-18 | [Crude oil prices today: WTI falls below $83 as war fear eases](https://feedsoft.ai/events/30929-crude-oil-prices-today-wti-falls-below-83-as-war-fear-eases.md) | +0.5% | -4.3% |
| BRENT | 2024-08-01 | [Oil prices fall 2% to six-week low on ceasefire talks, demand concerns](https://feedsoft.ai/events/29442-oil-prices-fall-2-to-six-week-low-on-ceasefire-talks-demand-concerns.md) | -3.4% | -2.1% |
| BRENT | 2026-04-10 | [Oil Eyes Large Weekly Loss Amid Fragile Iran Peace Hopes](https://feedsoft.ai/events/10139-oil-eyes-large-weekly-loss-amid-fragile-iran-peace-hopes.md) | +0.8% | -5.5% |
| BRENT | 2025-05-27 | [Oil prices ease as US-Iran talks, OPEC+ plans spur supply concerns](https://feedsoft.ai/events/24853-oil-prices-ease-as-us-iran-talks-opec-plans-spur-supply-concerns.md) | +0.8% | +12.0% |

## Sources

- live.euronext.com: https://live.euronext.com/en/financial-news/oil-prices-ease-nearly-four-week-low-amid-peace-talks
- khaleejtimes.com: https://www.khaleejtimes.com/business/oil-prices-ease-to-nearly-four-week-low-amid-peace-talks

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