Brent Falls to $100 as Traders Bet on a U.S.-Iran Deal

OilPrice.com · Charles Kennedy · 2026-11-04 15:30 UTC

Brent fell 2.9% to $100.60 as traders priced in a U.S.-Iran settlement and brushed off new threats around the Strait of Hormuz.

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Oil traders are pricing a U.S.-Iran settlement and discounting the threats around it. As of 9:40 a.m. ET on Wednesday, Brent had fallen $3.04, or 2.9%, to $100.60 per barrel, its third straight loss, and WTI had dropped $2.86, or 3%, to $93.23. Murban slipped $1.27 to $100.90. Both crude benchmarks traded higher early before reversing in a volatile session.

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