Brent tumbles below $101 as diplomacy hopes ease supply fears: Nov 4, 2026
Brent futures tumbled as traders welcomed US-Iran diplomatic efforts and reports of a possible two-day Hormuz reopening, with prices slipping below $101 per barrel on ICE after a $6 flash crash before rebounding toward $104. The moves follow US strikes on Iran paired with talk of peace, while TD Securities points to a higher-for-longer price regime and UBS cites Middle East supply risk in its new price forecasts.
Updated
This day is still open. Its readings are published once it closes. The live reading is on the Brent page.
Headlines (10)
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
- WTI tumbles over 5% as traders welcome US-Iran diplomatic effortsFXStreet
- Brent crude price falls below $104 per barrel, first time since October 15TASS
- Brent: Higher-for-longer price regime – TD SecuritiesFXStreet
- Californians vote on ballot initiative to impose one-time tax on billionairesfrance24.com
- Brent crude oil slips below $101 per barrel on ICE for first time since October 8TASS
- Brent Flash Crashes $6 Before Rebounding Towards $104OilPrice.com
- Trump Bombs Iran, Talks Peace, and Sends Oil Prices TumblingOilPrice.com
Scheduled events
As of
| Event | Forecast | Currency |
|---|---|---|
| Wednesday, November 4 | ||
| RatingDog Services PMI | 51.7 | CNY |
| ADP Non-Farm Employment Change | 67K | USD |
| Trade Balance | 4.8B | CAD |
| Trade Balance | -107.9B | USD |
| Final Services PMI | 57.9 | USD |
| ISM Services PMI | 54.8 | USD |
| Crude Oil Inventories | -1.7M | USD |
| Thursday, November 5 | ||
| Challenger Job Cuts y/y | USD | |