# Brent near $104; Oil volatile as traders weigh US-Iran peace prospects - CNBC TV18

> Brent traded near $104.27 in early Asian hours on November 4, after plunging 7.6% on November 3 to its steepest fall in more than three months. Washington and Tehran had signalled willingness to talk, but Iran's security chief called the US response not satisfactory. Citi expects the conflict to end by late 2026 or early 2027.

- Date: 2026-11-04 · published 2026-11-04T03:07:16.870Z
- Category: geopolitics · region Middle East · magnitude medium
- Page: https://feedsoft.ai/events/78983-brent-near-104-oil-volatile-as-traders-weigh-us-iran-peace-prospects-cnbc-tv18
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Oil is swinging on peace-talk headlines, with the Hormuz supply risk still unresolved. Price direction depends on whether diplomacy holds, so the market remains choppy.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2016-11-16 | [Oil volatile as U.S. crude build faces OPEC freeze hopes](https://feedsoft.ai/events/12018-oil-volatile-as-u-s-crude-build-faces-opec-freeze-hopes.md) | +4.5% | +19.7% |
| BRENT | 2022-03-09 | [Oil falls as investors weigh U.S. import ban](https://feedsoft.ai/events/5778-oil-falls-as-investors-weigh-u-s-import-ban.md) | -21.5% | -18.3% |
| BRENT | 2025-06-24 | [What influences crude oil more? US bombs or Iran's silent allies](https://feedsoft.ai/events/9610-what-influences-crude-oil-more-us-bombs-or-iran-s-silent-allies.md) | -6.9% | -3.2% |
| BRENT | 2018-09-13 | [Oil trades below $70 as traders assess supply shortage  \| The National](https://feedsoft.ai/events/63208-oil-trades-below-70-as-traders-assess-supply-shortage-the-national.md) | -0.6% | +4.5% |
| BRENT | 2022-08-24 | [Oil ends higher on U.S. response to Iran nuclear deal comments](https://feedsoft.ai/events/40194-oil-ends-higher-on-u-s-response-to-iran-nuclear-deal-comments.md) | -0.5% | -9.7% |
| WTI | 2016-11-16 | [Oil volatile as U.S. crude build faces OPEC freeze hopes](https://feedsoft.ai/events/12018-oil-volatile-as-u-s-crude-build-faces-opec-freeze-hopes.md) | +4.8% | +11.3% |
| WTI | 2022-03-09 | [Oil falls as investors weigh U.S. import ban](https://feedsoft.ai/events/5778-oil-falls-as-investors-weigh-u-s-import-ban.md) | -22.0% | -17.5% |
| WTI | 2025-06-24 | [What influences crude oil more? US bombs or Iran's silent allies](https://feedsoft.ai/events/9610-what-influences-crude-oil-more-us-bombs-or-iran-s-silent-allies.md) | -4.6% | -1.6% |

## Sources

- cnbctv18.com: https://www.cnbctv18.com/market/commodities/oil-prices-brent-wti-us-iran-peace-talks-gulf-exports-crude-market-volatility-west-asia-supply-us-midterms-20026448.htm

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