# Oil extends slide after plunging 8% on hopes to end US-Iran war

> Brent extended its slide near $94 after tumbling more than 8% in the prior session, with WTI near $87. Vice President Vance said voter frustration over the war doomed Republicans, and Trump said he had no immediate plans to escalate. Gulf crude exports are recovering, although oil product shipments remain constrained.

- Date: 2026-11-05 · published 2026-11-05T06:06:53.315Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/81129-oil-extends-slide-after-plunging-8-on-hopes-to-end-us-iran-war
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Constrained product shipments and Ukrainian strikes on Russian refineries are keeping diesel tight even as crude falls. Diesel costs remain a key input for feed logistics.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2026-05-06 | [Brent Crude Price: Oil and gas plunge after report US and Iran near deal to end war](https://feedsoft.ai/events/9582-brent-crude-price-oil-and-gas-plunge-after-report-us-and-iran-near-deal-to-end.md) | -2.3% | -11.1% |
| BRENT | 2026-03-24 | [Oil prices drop 2% as Iran considers US proposal to end war \| Reuters](https://feedsoft.ai/events/8151-oil-prices-drop-2-as-iran-considers-us-proposal-to-end-war-reuters.md) | +15.1% | +0.4% |
| BRENT | 2018-11-13 | [US crude plunges to one-year low, extending record losing streak](https://feedsoft.ai/events/6661-us-crude-plunges-to-one-year-low-extending-record-losing-streak.md) | -6.5% | -14.1% |
| BRENT | 2026-05-05 | [Oil prices slide on reports US and Iran are nearing peace agreement \| Reuters](https://feedsoft.ai/events/9579-oil-prices-slide-on-reports-us-and-iran-are-nearing-peace-agreement-reuters.md) | -9.6% | -16.4% |
| BRENT | 2026-04-08 | [Oil prices plunge on Trump's US-Iran ceasefire post](https://feedsoft.ai/events/6900-oil-prices-plunge-on-trump-s-us-iran-ceasefire-post.md) | -13.7% | -8.7% |
| WTI | 2026-05-06 | [Brent Crude Price: Oil and gas plunge after report US and Iran near deal to end war](https://feedsoft.ai/events/9582-brent-crude-price-oil-and-gas-plunge-after-report-us-and-iran-near-deal-to-end.md) | +0.0% | -5.8% |
| WTI | 2026-03-24 | [Oil prices drop 2% as Iran considers US proposal to end war \| Reuters](https://feedsoft.ai/events/8151-oil-prices-drop-2-as-iran-considers-us-proposal-to-end-war-reuters.md) | +17.0% | +4.7% |
| WTI | 2018-11-13 | [US crude plunges to one-year low, extending record losing streak](https://feedsoft.ai/events/6661-us-crude-plunges-to-one-year-low-extending-record-losing-streak.md) | -4.8% | -13.7% |

## Sources

- themalaysianreserve.com: https://themalaysianreserve.com/2026/11/05/oil-extends-slide-after-plunging-8-on-hopes-to-end-us-iran-war/

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