Energy · London, United Kingdom · United States of America · November 4, 2026

Brent crude falls below $100 on US-Iran deal hopes

Reported by 4 outlets · first reported Nov 4, 10:30 AM ET

Brent crude dropped to about $94 a barrel on Wednesday, its lowest since early September. Traders priced in a possible US-Iran settlement after Vance and Trump tied the election losses to the war.

Why it matters

Lower oil prices could ease fuel and living costs worldwide.

Background

Oil prices soared after the Strait of Hormuz was shut in February.

The story so far

1. Nov 2Oil falls over 7% on Iran diplomacy hopes
2. Nov 4Brent crude falls below $100 on US-Iran deal hopes
3. Nov 6Oil falls for the week on hopes of US-Iran deal

Follow the whole story →

Sources

• OilPrice ↗Nov 4, 1:30 PM ET
• OilPrice ↗Nov 4, 10:30 AM ET
• CNBC ↗Nov 4, 3:14 PM ET

This summary was written automatically from the reporting linked above; follow the sources for the full story. How One Turn works.

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