# Oil edges higher as mixed U.S.-Iran signals temper peace hopes

> Brent rose about 1% to $104.61 and WTI gained 0.8% in Asian trading on November 3 after both had hit near four-week lows. Mediators' proposals were under review, but an Iranian official said Washington's response was unconvincing. The US had also carried out limited strikes on Qeshm island.

- Date: 2026-11-04 · published 2026-11-04T03:07:16.662Z
- Category: geopolitics · region Middle East · magnitude low
- Page: https://feedsoft.ai/events/78980-oil-edges-higher-as-mixed-u-s-iran-signals-temper-peace-hopes
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Uncertainty over whether the Iran conflict will end keeps a risk premium in crude, which raises input costs for feed and fertiliser. Any failed talks could reverse the recent declines.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2026-10-02 | [Oil rises slightly as market weighs mixed supply signals \| Reuters](https://feedsoft.ai/events/9316-oil-rises-slightly-as-market-weighs-mixed-supply-signals-reuters.md) | +7.5% | +9.7% |
| BRENT | 2018-07-02 | [What higher oil prices mean for OPEC and the U.S. \| Brookings](https://feedsoft.ai/events/63956-what-higher-oil-prices-mean-for-opec-and-the-u-s-brookings.md) | -3.1% | -4.9% |
| BRENT | 2018-05-09 | [Oil jumps to highest since 2014 after US quits Iran deal](https://feedsoft.ai/events/65180-oil-jumps-to-highest-since-2014-after-us-quits-iran-deal.md) | +5.6% | -0.3% |
| BRENT | 2019-04-21 | [Oil Leaps to 6-Month High as U.S. Vows to Strangle Iran Exports - Bloomberg](https://feedsoft.ai/events/9607-oil-leaps-to-6-month-high-as-u-s-vows-to-strangle-iran-exports-bloomberg.md) | +0.4% | +2.4% |
| BRENT | 2022-03-03 | [Oil slides from decade-highs as Iran talks kindle supply hopes \| Reuters](https://feedsoft.ai/events/10344-oil-slides-from-decade-highs-as-iran-talks-kindle-supply-hopes-reuters.md) | -1.8% | -1.2% |
| WTI | 2026-10-02 | [Oil rises slightly as market weighs mixed supply signals \| Reuters](https://feedsoft.ai/events/9316-oil-rises-slightly-as-market-weighs-mixed-supply-signals-reuters.md) | -1.5% | +5.6% |
| WTI | 2018-07-02 | [What higher oil prices mean for OPEC and the U.S. \| Brookings](https://feedsoft.ai/events/63956-what-higher-oil-prices-mean-for-opec-and-the-u-s-brookings.md) | -0.3% | -4.5% |
| WTI | 2019-06-24 | [U.S. oil ends higher, but Brent falls as Trump administration announces additional Iran sanctions - MarketWatch](https://feedsoft.ai/events/58755-u-s-oil-ends-higher-but-brent-falls-as-trump-administration-announces.md) | +1.6% | -2.4% |

## Sources

- investing.com: https://www.investing.com/news/commodities-news/oil-edges-higher-as-mixed-usiran-signals-temper-peace-hopes-4997079

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