# Oil prices jump after Trump says no Iran deal needed: 'We've got their Strait'

> Trump said on social media that the US did not need a deal with Iran and had 'got their Strait', sending oil prices around flat to slightly higher. Brent traded near $93.29 and WTI near $86.05, with WTI down about 16% in November as fighting concerns eased earlier in the week.

- Date: 2026-11-12 · published 2026-11-12T15:09:38.306Z
- Category: geopolitics · region Global · magnitude low
- Page: https://feedsoft.ai/events/95666-oil-prices-jump-after-trump-says-no-iran-deal-needed-we-ve-got-their-strait
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Renewed uncertainty over a US-Iran settlement keeps a risk premium in crude, which feeds through to diesel and freight costs for grain and feed logistics.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2026-04-02 | [Oil prices jump and shares drop after Trump threatens more Iran strikes](https://feedsoft.ai/events/12922-oil-prices-jump-and-shares-drop-after-trump-threatens-more-iran-strikes.md) | -2.8% | +8.2% |
| BRENT | 2026-04-02 | [Oil price jumps and markets slide after Trump warning to Iran \| Oil \| The Guardian](https://feedsoft.ai/events/12923-oil-price-jumps-and-markets-slide-after-trump-warning-to-iran-oil-the-guardian.md) | -2.8% | +8.2% |
| BRENT | 2020-01-03 | [Oil prices jump after U.S. air strike kills top Iranian commander \| Reuters](https://feedsoft.ai/events/55265-oil-prices-jump-after-u-s-air-strike-kills-top-iranian-commander-reuters.md) | -1.0% | -13.0% |
| BRENT | 2025-06-13 | [Oil prices surge after Israel's strike on Iran \| CBC News](https://feedsoft.ai/events/10997-oil-prices-surge-after-israel-s-strike-on-iran-cbc-news.md) | +12.0% | -0.8% |
| BRENT | 2026-04-02 | [Oil Jumps After Trump Vows to Hit Iran ‘Extremely Hard’ - WSJ](https://feedsoft.ai/events/12727-oil-jumps-after-trump-vows-to-hit-iran-extremely-hard-wsj.md) | -2.8% | +8.2% |
| WTI | 2026-04-02 | [Oil prices jump and shares drop after Trump threatens more Iran strikes](https://feedsoft.ai/events/12922-oil-prices-jump-and-shares-drop-after-trump-threatens-more-iran-strikes.md) | -2.2% | +6.1% |
| WTI | 2026-04-02 | [Oil price jumps and markets slide after Trump warning to Iran \| Oil \| The Guardian](https://feedsoft.ai/events/12923-oil-price-jumps-and-markets-slide-after-trump-warning-to-iran-oil-the-guardian.md) | -2.2% | +6.1% |
| WTI | 2020-01-03 | [Oil prices jump after U.S. air strike kills top Iranian commander \| Reuters](https://feedsoft.ai/events/55265-oil-prices-jump-after-u-s-air-strike-kills-top-iranian-commander-reuters.md) | -2.6% | -15.7% |

## Sources

- cnbc.com: https://www.cnbc.com/2026/11/12/oil-prices-jump-after-trump-says-no-iran-deal-needed-weve-got-their-strait.html

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