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Brent slid toward $93 to reach its lowest level in about two months after Trump said the US has no immediate plans to strike Iran. Qatar has stepped up mediation.
Iranian officials said the two sides remain far from an agreement.
Removing the near-term strike threat cuts the escalation premium, but Iran's stance means supply disruption risk persists. Energy-linked feed and freight costs may stay volatile.
gulfnews.comJay HilotinNov 5, 2026After 250 past bearish geopolitics events, Crude Oil (Brent) moved a median -3.1% over 5 sessions (36% higher; middle half -7.9% to +1.6%), and -5.5% over 20.
After 255 past bearish geopolitics events, Crude Oil (WTI) moved a median -2.4% over 5 sessions (31% higher; middle half -7.0% to +1.7%), and -5.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
