Oil prices fell more than 3% on November 9 as fears of supply disruptions eased. Brent crude dropped 3.34% to $95.04 per barrel, while WTI fell to $88.21. The decline followed reports of potential Iranian concessions regarding the Strait of Hormuz and comments from Donald Trump suggesting extensive strikes on Iran were highly unlikely. Market sentiment shifted from a surge to a decline amid hopes for US-Iran peace talks.
Brent crude dropped below $92 per barrel to a three-month low as optimism grew over a deal to release frozen Iranian funds in exchange for maritime security.
Read the full story