https://www.live-feeds.com/feed/oil-futures-extend-retreat-on-middle-east-peace-hopesContinuously updated, source-cited coverage. https://www.live-feeds.com/feed/oil-futures-extend-retreat-on-middle-east-peace-hopeshttps://www.live-feeds.com/feed/oil-futures-extend-retreat-on-middle-east-peace-hopes#u198185Fri, 13 Nov 2026 04:33:27 +0000Oil futures continued their decline as diplomatic signals reduced fears of a U.S.-Iran military confrontation. Brent crude fell sharply, hitting a 10-week low, after former President Donald Trump said strikes on Iran were "highly unlikely." The drop occurred despite a fresh attack on a Saudi pipeline, which failed to offset the market's focus on de-escalation. Traders are pricing in a lower geopolitical risk premium as nuclear talks remain deadlocked but non-violent.Why it mattersCrude prices had rallied earlier in the year on fears that shipping attacks in the Strait of Hormuz