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BackOil stabilizes after Trump hints at restraint towards Iran and risks continue in Hormuz
Oil stabilizes after Trump hints at restraint towards Iran and risks continue in Hormuz
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دويتشه فيله14 minutes agoBusiness1 min readArgentinaView original

Oil stabilizes after Trump hints at restraint towards Iran and risks continue in Hormuz

OilBrent crudeDonald Trump

Quick Look

Oil prices fell on Monday after US President Donald Trump ruled out launching new attacks on Iran amid progress in talks to end the conflict, despite reports of attacks in the Strait of Hormuz.

AI-generated summary

Why It Matters

Oil prices fell after Trump's statements about ruling out new attacks on Iran in parallel with the progress of peace talks.

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Oil prices fell at the beginning of trading today (Monday, November 9, 2026) after US President Donald Trump said that he was unlikely to order new attacks on Iran in light of progress in the talks aimed at ending the conflict, despite both countries announcing attacks on ships in or near the Strait of Hormuz.

The price of Brent crude fell 84 cents, or 0.85 percent, to $97.48 per barrel. West Texas Intermediate crude fell 32 cents, or 0.35 percent, to $90.51 a barrel.

This decline reflected the slight gains achieved upon settlement on Friday, with markets assessing the possibility of further US strikes on Iran, even though Brent crude fell 17 percent last week, the largest weekly decline since the beginning of the Covid-19 pandemic and the largest in absolute terms, according to data from the London Stock Exchange Group dating back to 1988.

Trump had hinted at launching new attacks on Iran after the US midterm elections last week, but no indications of a large-scale US military operation have emerged. Iran announced that it would respond by striking American and Israeli targets.

Open Questions

  • What are the details of the talks to end the conflict between the two sides?
  • Will attacks on ships in the Strait of Hormuz stop once and for all?

Related Topics

Oil
PeopleDonald Trump
OrganizationsLondon Stock Exchange Group
PlacesIranStrait of HormuzUnited States
TopicsBrent crudeDonald TrumpIranStrait of HormuzWest Texas Intermediate crude oil
This article was originally published by دويتشه فيله.

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