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● LIVE Updated 1h ago · 9 sources tracked

Oil falls as Trump says new Iran attacks 'unlikely'

Oil prices fell at Monday's open after President Donald Trump said he was highly unlikely to order new attacks on Iran while talks to end the conflict progress. Brent crude dropped 84 cents, or 0.85%, to $97.48 a barrel. West Texas Intermediate fell 32 cents, or 0.35%, to $90.51 a barrel. Both nations have reported attacks on ships in or near the Strait of Hormuz. The decline extends the biggest weekly drop for oil since 2020, though Middle East supply concerns continue to provide a floor.

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⚡ Key Developments & Real-Time Context
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  • ✓ Brent crude fell 84 cents, or 0.85%, to $97.48 a barrel at Monday's open.
  • ✓ West Texas Intermediate fell 32 cents, or 0.35%, to $90.51 a barrel at Monday's open.
  • ✓ Trump said he was highly unlikely to order new Iran attacks while talks to end the conflict make progress.
  • ✓ Both the U.S. and Iran have reported attacks on ships in or near the Strait of Hormuz.
🛡️ Source Corroboration: 9 independent reporting domains (90% confidence) ⏱ Read time: ~3 min

What changed

Trump stated new Iran attacks are 'highly unlikely' as talks progress, prompting an immediate price drop at Monday's open.

Live updates

  1. Oil drops after Trump says new Iran attacks unlikely

    Oil prices fell at Monday's open after President Donald Trump said he was highly unlikely to order new attacks on Iran while talks to end the conflict progress. Brent crude dropped 84 cents, or 0.85%, to $97.48 a barrel. West Texas Intermediate fell 32 cents, or 0.35%, to $90.51 a barrel. Both nations have reported attacks on ships in or near the Strait of Hormuz. The decline extends the biggest weekly drop for oil since 2020, though Middle East supply concerns continue to provide a floor.

    Why it matters

    Markets had priced in a risk premium for potential U.S. military escalation against Iran following midterm elections. Trump's statement directly reduced that geopolitical premium. However, conflicting signals persist: Israel's security cabinet has ordered intensified preparations for a possible new offensive against Iran, and an Iranian official threatened U.S. bases in Europe. These cross-currents keep the supply-risk floor in place despite the weekly slide.

    What is confirmed

    • Brent crude fell 84 cents, or 0.85%, to $97.48 a barrel at Monday's open.
    • West Texas Intermediate fell 32 cents, or 0.35%, to $90.51 a barrel at Monday's open.
    • Trump said he was highly unlikely to order new Iran attacks while talks to end the conflict make progress.
    • Both the U.S. and Iran have reported attacks on ships in or near the Strait of Hormuz.
    • Oil is on track for its biggest weekly drop since 2020.

    Still unconfirmed

    • Israel's security cabinet has ordered the armed forces to intensify preparations for a possible new offensive against Iran.
    • Iran threatened to target U.S. military bases in Europe if attacked.

    What to watch next

    • Progress or breakdown in U.S.-Iran talks to end the conflict
    • Israeli military action against Iran following security cabinet orders
    • Any disruption to shipping in the Strait of Hormuz
    Sources used for this update (11)
    1. cashwalklabs.io — GM will switch to Nasdaq from the NYSE on Nov. 17
    2. www.myjoyonline.com — Fire outbreaks leave a trail of destruction at Bunso, Boso and Nsawam
    3. CNBC — Oil prices rise as investors weigh renewed U.S.-Iran conflict risks after midterm elections
    4. Reuters — Oil set for sharp weekly drop but Middle East supply concerns provide floor
    5. WSJ — Oil Slides Below $100 a Barrel, With Focus on Iran Outlook After U.S. Midterms
    6. Reuters — Oil falls on open as Trump says fresh Iran attacks 'unlikely'
    7. Bloomberg — Oil Extends Biggest Weekly Drop Since 2020 With Focus on Iran
    8. www.cnbc.com — Oil falls as Trump says new Iran attacks 'unlikely'
    9. www.cnn.com — Trump’s peaceful mood doesn’t fully explain why energy prices are plunging
    10. jen.jiji.com — Ramona Rinaldi murder, partner confesses in court: "I hugged her tight and she died"
    11. jen.jiji.com — Iran, Israel prepares new attack: Tehran threatens US bases in Europe
    confidence 90%
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