Brent slides below $104 as US-Iran diplomacy eases supply fears: Nov 3, 2026
Brent fell below $104 per barrel for the first time since October 15, with oil prices down around 6% as US-Iran diplomacy eased supply fears. The move followed reports that diplomacy may get a chance and Iran floated a two-day reopening around Hormuz, while analysts continue to point to Middle East and Russia supply risks.
Updated
This day is still open. Its readings are published once it closes. The live reading is on the Brent page.
The day on the wire
00:0006:0012:0018:0024:00
Each tick is a headline first seen that day.
Headlines (11)
First seen on November 3
- US signals 'progress' in talks with Iran to avert renewed wargulfnews.com
- The Commodities Feed: False US-Iran hopes or the real deal?ING Think
- US Dollar Caught Off Guard by Brent Plunge. Forecast as of 03.11.2026LiteFinance
- Brent: Higher-for-longer price regime – TD SecuritiesFXStreet
Carried over from earlier days
- Goldman lifts December Brent forecast to $105 on Middle East and Russia supply risksInvestingLive
- UBS’s new Brent price forecasts as Middle East supply risk supports oil pricesHellenic Shipping News
- Brent, WTI Futs Tumble As Trump May Give Diplomacy A Chance, Iran Floats Two-Day Hormuz ReopeningZeroHedge
- Oil prices plunge 6% as US-Iran diplomacy eases supply fearsaa.com.tr
- WTI tumbles over 5% as traders welcome US-Iran diplomatic effortsFXStreet
- Brent crude price falls below $104 per barrel, first time since October 15TASS
- US stocks close mixed as tech shares surrender early gainsaa.com.tr
Scheduled events
As of
| Event | Forecast | Currency |
|---|---|---|
| Tuesday, November 3 | ||
| Factory Orders m/m | 1.2% | USD |
| JOLTS Job Openings | 7.15M | USD |
| RCM/TIPP Economic Optimism | 46.2 | USD |
| Omdia Total Vehicle Sales | 15.8M | USD |
| Congressional Elections | USD | |
| BOC Gov Macklem Speaks | CAD | |
| API Weekly Statistical Bulletin | USD | |
| Annual Budget Release | CAD | |