{
  "id": 16829207,
  "title": "Oil prices retreat as Middle East diplomacy lifts hopes",
  "url": "https://urgent.news/2026/10/28/oil-prices-retreat-as-middle-east-diplomacy-lifts-hopes",
  "topic": "world",
  "section": "World",
  "published": "2026-10-28T01:17:00.000Z",
  "source": {
    "name": "The Vibes",
    "slug": "the-vibes",
    "url": "https://www.thevibes.com/articles/business/128872/oil-prices-retreat-as-middle-east-diplomacy-lifts-hopes"
  },
  "original_language": "en",
  "account": "Oil prices fell on Wednesday as investors analyzed political developments in the Middle East and the impact of renewed diplomatic efforts. Brent crude remained below US$114 a barrel, following two days of losses. Meanwhile, the US dollar's strength kept the Malaysian ringgit at around RM4.09 per dollar.\n\nInvestors were closely monitoring Israeli election results, with exit polls showing opposition leader Gadi Eisenkot narrowly leading Prime Minister Benjamin Netanyahu. Neither side had secured a majority following the vote count. Meanwhile, Saudi Arabia, Pakistan, and Turkey met Iranian leaders on Monday, and Supreme Leader Mojtaba Khamenei called for an end to a period of \"neither war nor peace.\"\n\nIn the United States, crude inventories dropped by two million barrels in the week ending October 23, signaling tighter supplies and providing some support to oil prices. The US dollar index rose 0.3% to 102.40, its highest level since October 14, as traders looked for indications of a potential December interest rate move from the Federal Reserve.\n\nThe euro and the British pound remained stable against the US dollar at US$1.1129 and US$1.3307, respectively. Bitcoin was steady at US$80,736.07, while Ether increased 0.1% to US$2,345.25.",
  "summary": "GLOBAL oil prices remained under pressure on Wednesday as investors weighed developments in the Middle East and renewed diplomatic efforts against signs of tighter US crude supplies, while the US dollar’s strength kept the ringgit around RM4.09 per d...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Arutz Sheva - Israel National News",
        "title": "This is how the Middle East is covering Israel’s elections",
        "url": "https://urgent.news/2026/10/27/this-is-how-the-middle-east-is-covering-israels-elections",
        "published": "2026-10-27T18:08:29.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}