# Oil prices ease to settle near 4-week low on hopes peace talks will end wars

> Oil benchmarks closed lower on Tuesday, with Brent settling at $103.60 a barrel, its lowest close since October 7, and WTI at $96.09. Traders weighed mediation efforts to end the US-Iran and Ukraine conflicts against continued risks from recent attacks that could disrupt supplies.

- Date: 2026-11-03 · published 2026-11-04T00:51:00.842Z
- Category: geopolitics · region Global · magnitude low
- Page: https://feedsoft.ai/events/78861-oil-prices-ease-to-settle-near-4-week-low-on-hopes-peace-talks-will-end-wars
- 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

Easing war risk and peace-talk progress reduce the supply risk premium in crude, which lowers diesel and energy input costs for feed producers and freight. ING notes that clear peace progress would mean further downside for prices.

## 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 | 2026-10-29 | [Oil prices fall as hopes of US-Iran peace talks ease supply fears \| Commodity News - Business Standard](https://feedsoft.ai/events/253-oil-prices-fall-as-hopes-of-us-iran-peace-talks-ease-supply-fears-commodity.md) | -2.3% | — |
| 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 | 2024-05-01 | [Oil falls to 7-week low on surprise US storage build, Middle East hopes](https://feedsoft.ai/events/7230-oil-falls-to-7-week-low-on-surprise-us-storage-build-middle-east-hopes.md) | -4.3% | -3.7% |
| WTI | 2026-08-28 | [Nymex Overview: Oil Prices Easing, on Track to End Week Lower -- OPIS - MarketWatch](https://feedsoft.ai/events/18054-nymex-overview-oil-prices-easing-on-track-to-end-week-lower-opis-marketwatch.md) | +9.2% | +13.1% |
| 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 | 2026-10-29 | [Oil prices fall as hopes of US-Iran peace talks ease supply fears \| Commodity News - Business Standard](https://feedsoft.ai/events/253-oil-prices-fall-as-hopes-of-us-iran-peace-talks-ease-supply-fears-commodity.md) | -5.4% | — |
| BRENT | 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) | -11.3% | -3.8% |

## Sources

- live.euronext.com: https://live.euronext.com/en/financial-news/oil-prices-ease-settle-near-4-week-low-hopes-peace-talks-will-end-wars
- businesstimes.com.sg: https://www.businesstimes.com.sg/companies-markets/energy-commodities/oil-prices-ease-settle-near-4-week-low-hopes-peace-talks-will-end-wars

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