{ "id": 17713772, "title": "Oil slips more than 1pct as talks continue on ending Iran war", "url": "https://urgent.news/2026/11/02/oil-slips-more-than-1pct-as-talks-continue-on-ending-iran-war", "topic": "world", "section": "World", "published": "2026-11-02T00:15:17.000Z", "source": { "name": "New Straits Times", "slug": "new-straits-times", "url": "https://www.nst.com.my/business/economy/2026/11/1568718/oil-slips-more-1pct-talks-continue-ending-iran-war" }, "original_language": "en", "account": "Oil prices experienced a decline of over one percent on Monday following ongoing discussions between Iranian and Qatari officials in an attempt to reach an agreement to halt the US-Israeli war on Iran. Brent crude futures experienced a decrease of US$1.59, or 1.40 percent, settling at US$111.84 per barrel by 0011 GMT. US West Texas Intermediate crude prices also fell by US$1.56, or 1.50 percent, reaching US$102.56 per barrel. Brent crude ended October at its highest level in six months due to concerns that the US-Iran conflict might intensify once again after the US midterm elections.\n\nTim Waterer, chief market analyst at KCM Trade, mentioned that oil is currently experiencing a technical correction after the strong gains of the previous week. Although there were lingering hopes for some form of diplomatic progress, the market also noted the absence of any significant military escalation over the weekend, which helped alleviate immediate price pressures. However, the market remained cautious as there was a possibility of heightened rhetoric surrounding Iran, potentially pushing Brent toward US$120 following the midterm elections, according to Waterer.\n\nIranian Foreign Minister Abbas Araqchi stated on Sunday that the purpose of the ongoing and progressing talks is to continue consultations with Qatari mediators, emphasizing that Tehran is prepared for both defense and diplomacy. The discussions are taking place amidst attacks on oil tankers passing through the Strait of Hormuz, which are driving up global energy and shipping costs. In October, Saudi Arabia increased crude exports compared to September, despite attacks by the Iran-aligned Yemeni Houthis on its energy infrastructure, according to two of three ship-tracking companies.\n\nThe Organization of the Petroleum Exporting Countries and its allies, including Russia, or OPEC+, maintained December production targets steady on Sunday, confirming expectations that additional policy adjustments will not occur until the following year. As the group continues to grapple with export disruptions stemming from the Iran war, the situation remains uncertain.", "summary": "SINGAPORE: Oil prices slipped more than one per cent on Monday after Iranian and Qatari officials held a third straight day of talks aimed at pushing for a deal to end the US-Israeli war on Iran.", "key_points": [], "editors_take": null, "illustration": null, "coverage": { "outlets": 12, "also_reported_by": [ { "outlet": "Middle East Eye", "title": "Iran's IRGC Navy says two tankers 'exploded' after hitting mines in Hormuz", "url": "https://urgent.news/2026/11/01/irans-irgc-navy-says-two-tankers-exploded-after-hitting-mines-in", "published": "2026-11-01T20:18:23.000Z" }, { "outlet": "Doha News", "title": "Iran awaits U.S. response on Strait of Hormuz plan amid ongoing Qatari mediation", "url": "https://urgent.news/2026/11/01/iran-awaits-u-s-response-on-strait-of-hormuz-plan-amid-ongoing-qatari", "published": "2026-11-01T21:03:21.000Z" }, { "outlet": "NPR", "title": "Gulf region on edge as Qatar leads talks with Iran to stave off new U.S. attacks", "url": "https://urgent.news/2026/11/01/gulf-region-on-edge-as-qatar-leads-talks-with-iran-to-stave-off-new-u", "published": "2026-11-01T22:19:13.000Z" }, { "outlet": "Jerusalem Post", "title": "Two oil tankers explode after hitting mine in Hormuz Strait, IRGC spokesperson says", "url": "https://urgent.news/2026/11/01/two-oil-tankers-explode-after-hitting-mine-in-hormuz-strait-irgc", "published": "2026-11-01T22:42:47.000Z" }, { "outlet": "Gulf News", "title": "Iran proposes '2-day plan' to reopen Strait of Hormuz amid US talks", "url": "https://urgent.news/2026/11/01/iran-proposes-2-day-plan-to-reopen-strait-of-hormuz-amid-us-talks", "published": "2026-11-01T22:49:47.000Z" }, { "outlet": "Investing.com", "title": "Oil slips more than 1% as talks continue on ending Iran war", "url": "https://urgent.news/2026/11/01/oil-slips-more-than-1-as-talks-continue-on-ending-iran-war", "published": "2026-11-01T23:18:39.000Z" }, { "outlet": "The Business Times - Companies & Markets", "title": "Oil slips more than 1% as talks continue on ending Iran war", "url": "https://urgent.news/2026/11/01/oil-slips-more-than-1-as-talks-continue-on-ending-iran-war-17705913", "published": "2026-11-01T23:51:38.000Z" }, { "outlet": "The Vibes", "title": "Oil eases as Iran talks raise hopes of de-escalation", "url": "https://urgent.news/2026/11/02/oil-eases-as-iran-talks-raise-hopes-of-de-escalation", "published": "2026-11-02T01:02:00.000Z" }, { "outlet": "MyJoyOnline Ghana", "title": "Oil slips more than 1% as talks continue on ending Iran war", "url": "https://urgent.news/2026/11/02/oil-slips-more-than-1-as-talks-continue-on-ending-iran-war-17739322", "published": "2026-11-02T02:29:00.000Z" }, { "outlet": "Business Recorder", "title": "Oil slips more than 1% as talks continue on ending Iran war", "url": "https://urgent.news/2026/11/02/oil-slips-more-than-1-as-talks-continue-on-ending-iran-war", "published": "2026-11-02T02:40:07.000Z" }, { "outlet": "Al Majalla English", "title": "US and Iran: open to talks, preparing for war", "url": "https://urgent.news/2026/11/02/us-and-iran-open-to-talks-preparing-for-war", "published": "2026-11-02T03:29:08.000Z" } ] }, "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." }