# Oil Price Forecast — WTI ($93.19) and Brent ($100.71) Slide as Iran Mediation and Democratic Sweep Drain the War Premium — $98 Brent Test Ahead

> WTI fell to $93.19 and Brent to $100.71 on Wednesday, down about 3% and 2.8% respectively, as the Iran war premium unwound. Brent has given back about 13% over eight sessions, and the API reported a 5.27-million-barrel crude draw against an expected build.

- Date: 2026-11-04 · published 2026-11-04T21:07:36.145Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/80448-oil-price-forecast-wti-93-19-and-brent-100-71-slide-as-iran-mediation-and
- 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

Diplomacy and Gulf supply recovery are pulling prices lower, though physical inventory draws limit the downside. Lower crude weighs on diesel and freight costs for feed buyers, with the next technical target near $98 Brent.

## Read by commodity

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

## Sources

- tradingnews.com: https://www.tradingnews.com/news/brent-100-usd-gives-back-13-percent-in-8-session

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