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Brent oil price drops below $90 on US-Iran peace hopes

World News

10-11-2026 | 04:25

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Brent oil price drops below $90 on US-Iran peace hopes

The price of Brent North Sea crude, the main international benchmark, dropped under $90 a barrel Tuesday for the first time since August on growing hopes of an end to the U.S.-Iran war.

Brent slid 3.1 percent to $89.66 a barrel, extending sharp declines in recent trading sessions. The main U.S. contract, West Texas Intermediate, shed 2.3 percent to $84.86.

U.S. President Donald Trump said Monday that there was momentum toward ending the war with Iran, as he declared that the country "militarily, is effectively over", but kept open the possibility of new strikes.

AFP

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