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Oil falls on Hormuz talks, but Trump keeps Iran strike option open

euronews.com — November 2, 2026 at 11:01 AM UTC

Oil prices fell Monday as talks in Qatar raised hopes of reopening the Strait of Hormuz, though US President Donald Trump kept military strikes on Iran an option and Israel's Benjamin Netanyahu reportedly urged action after Tuesday's midterm elections. Brent crude traded around $108.5 a barrel, down 2.8% from Friday, with West Texas Intermediate falling 3% to under $100. Iranian Foreign Minister Abbas Araghchi said the strait could reopen in two days if Washington met conditions, including lifting sanctions and ending its naval blockade. Trump said negotiations were "going fine" but called Iranians "not very reliable," while Goldman Sachs noted a $27 geopolitical risk premium in prices. Shipping through the strait, which carries about a fifth of global oil, remains disrupted, with new projectile reports on Sunday.

With a significance score of 1.8, this news ranks in the top 27% of today's 32258 analyzed articles.

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[1.8]

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[1.7]

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[1.7]

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[1.7]

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[1.6]

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[1.6]

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[1.6]

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[1.5]

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[1.5]

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[1.5]

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[1.5]

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[1.5]

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[1.5]

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1d 14h

[1.4]

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[1.4]

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1d 5h

[1.3]

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[1.3]

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1d 5h

[1.3]

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1d 17h

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[1.3]

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1d 12h

[1.3]

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1d 22h

[1.3]

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1d 11h

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[1.3]

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1d 4h

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[1.3]

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1d 11h

[1.2]

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1d 13h

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[1.2]

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[1.2]

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[1.2]

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[1.2]

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1d 21h

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[1.2]

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[1.2]

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[1.1]

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[1.1]

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[1.1]

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[1.1]

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[1.1]

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[1.1]

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[1.1]

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[1.0]

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[0.9]

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[0.9]

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[0.9]

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[0.8]

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[0.8]

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