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2026-11-09T08:01:30.000Z

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Oil Falls on US-Iran Calm

Oil Falls on US-Iran Calm

Oil prices fell on Monday amid signs of progress in talks to end the conflict between the United States and Iran, after Donald Trump indicated he did not expect further attacks, despite reports of strikes targeting ships near the Strait of Hormuz. Brent crude fell 1.14% to $97.20 a barrel, while West Texas Intermediate dropped 0.62% to $90.27. Brent had fallen about 17% over the previous week. JPMorgan forecast a global supply surplus of 1.1 million barrels per day in September, rising to 1.4 million in October, as flows recover and demand weakens.

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