# Oil prices dip 1% on report of more U.S.-Iran diplomacy plans

> Oil prices fell in Asian trade after the Wall Street Journal reported that U.S. Vice President JD Vance was considering in-person talks with a top Iranian security official. Brent fell 1.2% to $91.63 a barrel and WTI fell 1.1% to $85.55, erasing a brief rebound from two-month lows.

- Date: 2026-11-12 · published 2026-11-12T06:09:49.310Z
- Category: geopolitics · region Middle East · magnitude medium
- Page: https://feedsoft.ai/events/94988-oil-prices-dip-1-on-report-of-more-u-s-iran-diplomacy-plans
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Easing Middle East supply fears push crude lower, which lowers feed-related energy and freight costs and reduces support for biofuel-linked crops like corn, soybean oil and ethanol feedstocks. The outcome of talks remains uncertain, so the price path could reverse quickly.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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% |
| BRENT | 2026-04-17 | [Oil prices: Oil tumbles more than 10% as Iran declares Strait of Hormuz open](https://feedsoft.ai/events/8808-oil-prices-oil-tumbles-more-than-10-as-iran-declares-strait-of-hormuz-open.md) | +1.3% | +0.6% |
| 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 | 2026-03-23 | [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% |
| BRENT | 2026-05-29 | [Oil prices soften as traders bet on renewal of US-Iran truce - CNBC TV18](https://feedsoft.ai/events/12492-oil-prices-soften-as-traders-bet-on-renewal-of-us-iran-truce-cnbc-tv18.md) | +2.5% | -21.2% |
| WTI | 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) | -18.9% | -8.3% |
| WTI | 2026-04-17 | [Oil prices: Oil tumbles more than 10% as Iran declares Strait of Hormuz open](https://feedsoft.ai/events/8808-oil-prices-oil-tumbles-more-than-10-as-iran-declares-strait-of-hormuz-open.md) | +2.3% | +7.9% |
| WTI | 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) | -7.6% | -11.4% |

## Sources

- uk.finance.yahoo.com: https://uk.finance.yahoo.com/news/oil-prices-dip-report-more-002011115.html

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