# Oil settles down over 4% on US-Iran de-escalation, easing supply worries | Reuters

> Oil prices settled down more than 4% on February 1, 2026, after President Trump said Iran was 'seriously talking' with Washington. Brent and WTI fell from multi-month highs as the market priced out near-term strike risk. A stronger dollar and milder US weather forecasts added pressure.

- Date: 2026-02-01 · published 2026-02-01T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/8794-oil-settles-down-over-4-on-us-iran-de-escalation-easing-supply-worries-reuters
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The removal of the geopolitical risk premium removes a supply-disruption cushion from crude, which lowers energy costs for feed production and transport. Lower crude also weakens the case for biofuel-linked demand for vegetable oils.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2026-02-02 | 1 | -6.3% | -3.7 | Oil settled down over 4% on US-Iran de-escalation, a stronger dollar and milder weather, though the dating is slightly off. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2026-03-10 | [Oil dives, settles down 11% after Trump predicts Middle East de-escalation \| Reuters](https://feedsoft.ai/events/6628-oil-dives-settles-down-11-after-trump-predicts-middle-east-de-escalation-reuters.md) | +4.1% | +27.2% |
| BRENT | 2026-04-17 | [Oil settles down 9% after Iran declares Strait of Hormuz open \| Reuters](https://feedsoft.ai/events/8807-oil-settles-down-9-after-iran-declares-strait-of-hormuz-open-reuters.md) | +1.3% | +0.6% |
| BRENT | 2026-05-27 | [Oil settles 5% lower as investors await updates on US-Iran peace deal talks \| Reuters](https://feedsoft.ai/events/12486-oil-settles-5-lower-as-investors-await-updates-on-us-iran-peace-deal-talks.md) | -3.9% | -24.5% |
| BRENT | 2026-07-30 | [Oil settles down on proposed Saudi-led maritime defence coalition \| Reuters](https://feedsoft.ai/events/18514-oil-settles-down-on-proposed-saudi-led-maritime-defence-coalition-reuters.md) | -9.2% | -3.9% |
| BRENT | 2026-05-24 | [Oil tumbles nearly 7% as US and Iran seen moving closer to deal \| Reuters](https://feedsoft.ai/events/12722-oil-tumbles-nearly-7-as-us-and-iran-seen-moving-closer-to-deal-reuters.md) | -8.2% | -26.6% |
| WTI | 2026-03-10 | [Oil dives, settles down 11% after Trump predicts Middle East de-escalation \| Reuters](https://feedsoft.ai/events/6628-oil-dives-settles-down-11-after-trump-predicts-middle-east-de-escalation-reuters.md) | -1.3% | +20.4% |
| WTI | 2026-04-17 | [Oil settles down 9% after Iran declares Strait of Hormuz open \| Reuters](https://feedsoft.ai/events/8807-oil-settles-down-9-after-iran-declares-strait-of-hormuz-open-reuters.md) | +2.3% | +7.9% |
| WTI | 2026-05-27 | [Oil settles 5% lower as investors await updates on US-Iran peace deal talks \| Reuters](https://feedsoft.ai/events/12486-oil-settles-5-lower-as-investors-await-updates-on-us-iran-peace-deal-talks.md) | -0.2% | -26.3% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-falls-by-over-1-per-barrel-iran-talks-focus-2026-02-01/

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