# Oil prices fall to lowest since August as Trump says Iran war is ‘effectively over’

> Brent crude fell nearly 3% to $89.66 a barrel, its lowest level since August 31. The decline followed a nearly 6% drop on Monday, after Trump played down the need for further military action against Iran.

- Date: 2026-11-10 · published 2026-11-10T12:10:35.429Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/91625-oil-prices-fall-to-lowest-since-august-as-trump-says-iran-war-is-effectively
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Reduced expectations of further conflict lower the risk premium in crude and may ease fuel and freight costs for agricultural supply chains. The price effect is bearish for oil.

## Read by commodity

- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2026-03-10 | [Oil prices dive as Trump says Iran war will end ‘very soon’ \| CNN Business](https://feedsoft.ai/events/6630-oil-prices-dive-as-trump-says-iran-war-will-end-very-soon-cnn-business.md) | +4.1% | +27.2% |
| BRENT | 2026-03-10 | [Oil and gas prices fall after Trump says war is 'very complete' - BBC News](https://feedsoft.ai/events/9387-oil-and-gas-prices-fall-after-trump-says-war-is-very-complete-bbc-news.md) | +4.1% | +27.2% |
| BRENT | 2026-04-01 | [Grain, Oilseed Prices Fall as Traders Look for End to Iran War - Bloomberg](https://feedsoft.ai/events/19762-grain-oilseed-prices-fall-as-traders-look-for-end-to-iran-war-bloomberg.md) | -12.2% | -1.1% |
| BRENT | 2026-03-08 | [Oil prices fall as Trump weighs taking over Strait of Hormuz](https://feedsoft.ai/events/6633-oil-prices-fall-as-trump-weighs-taking-over-strait-of-hormuz.md) | +9.5% | +25.6% |
| BRENT | 2026-03-23 | [Oil Prices Fall More Than 10% After Trump Postpones Iran Strikes](https://feedsoft.ai/events/11451-oil-prices-fall-more-than-10-after-trump-postpones-iran-strikes.md) | +1.5% | -13.8% |

## Sources

- theguardian.com: https://www.theguardian.com/business/2026/nov/10/oil-prices-fall-donald-trump-iran-war-ftse-100-markets

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