{
  "id": 17752195,
  "title": "Oil prices slide more than 3% as Trump signals more time for Iran diplomacy",
  "url": "https://urgent.news/2026/11/02/oil-prices-slide-more-than-3-as-trump-signals-more-time-for-iran-17752195",
  "topic": "business",
  "section": "Business",
  "published": "2026-11-02T04:53:25.000Z",
  "source": {
    "name": "The National Business",
    "slug": "the-national-business",
    "url": "https://www.thenationalnews.com/business/2026/11/02/oil-prices-slide-more-than-3-as-trump-signals-more-time-for-iran-diplomacy/"
  },
  "original_language": "en",
  "account": "Oil prices plummeted over 3% on Monday as President Donald Trump signaled his intention to extend diplomacy talks with Iran, alleviating worries about additional supply interruptions. The two major oil price indices declined by more than 3% in early trading. Brent crude, which accounts for two-thirds of global oil, was trading at $110 a barrel at 7:55 am UAE time. Meanwhile, West Texas Intermediate, the benchmark for US crude, fell to $100.90 a barrel.\n\nAccording to reports, Trump confided in Israeli Prime Minister Benjamin Netanyahu during a phone call that he wished to provide more time for Iran diplomacy before contemplating further military actions. CBS News also quoted Trump as believing the US would ultimately conclude the war with Iran, either through a deal or through other means. Speaking to Right Side Broadcasting Network before a campaign rally in Iowa, Trump expressed confidence in the upcoming resolution, stating, \"We've had such a victory, and we'll put it away very soon, one way or the other.\"\n\nSecretary of State Marco Rubio confirmed on Saturday that no decision had been made regarding renewed strikes, emphasizing Trump's preference for a diplomatic resolution. On Sunday, the UK Maritime Trade Operations reported receiving a statement about a potential missile strike on a ship in the Strait of Hormuz, following an attack on a liquefied natural gas tanker earlier in the week. Additionally, an Iranian delegation was in Qatar for discussions with mediators, as per a Bloomberg report.\n\nThe surge in oil prices over the past week, fueled by Hormuz strikes and a US threat to target Iran, had pushed both Brent and WTI to six-month highs. However, after this morning's decline, crude prices have eased, and analysts predict that they may remain elevated near $110 a barrel by year-end due to factors such as record freight costs, limited tanker capacity, and ongoing geopolitical uncertainties in the Middle East.",
  "summary": "Oil prices fell on Monday morning amid hopes of a diplomatic breakthrough between the US and Iran , easing concerns about further supply disruption. US President Donald Trump reportedly said he wants to give diplomacy with Iran more time before considering renewed military strikes after Tuesday’s US midterm elections. The two key benchmarks slid more than 3 per cent in morning trading. Brent, the…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 9,
    "also_reported_by": [
      {
        "outlet": "The Times of Israel",
        "title": "Trump said weighing scapegoating Hegseth or Caine for failure to end Iran war",
        "url": "https://urgent.news/2026/11/02/trump-said-weighing-scapegoating-hegseth-or-caine-for-failure-to-end",
        "published": "2026-11-02T04:54:59.000Z"
      },
      {
        "outlet": "Daily Times",
        "title": "Trump and Netanyahu hold direct talks on strategic next steps in ongoing Iran conflict",
        "url": "https://urgent.news/2026/11/02/trump-and-netanyahu-hold-direct-talks-on-strategic-next-steps-in",
        "published": "2026-11-02T05:07:36.000Z"
      },
      {
        "outlet": "Live Mint",
        "title": "Trump's nuclear strike on Iran's Pickaxe Mountain to trigger World War III? Tucker Carlson’s warning explained",
        "url": "https://urgent.news/2026/11/02/trumps-nuclear-strike-on-irans-pickaxe-mountain-to-trigger-world-war",
        "published": "2026-11-02T05:17:44.000Z"
      },
      {
        "outlet": "Hindustan Times - World News",
        "title": "US midterm election 2026 LIVE: Trump's approval rating tanks ahead of key vote, Iran tensions",
        "url": "https://urgent.news/2026/11/02/us-midterm-election-2026-live-trumps-approval-rating-tanks-ahead-of",
        "published": "2026-11-02T05:27:11.000Z"
      },
      {
        "outlet": "South China Morning Post",
        "title": "Iran warns new war with US could last longer as Trump threatens ‘the hammer’",
        "url": "https://urgent.news/2026/11/02/iran-warns-new-war-with-us-could-last-longer-as-trump-threatens-the",
        "published": "2026-11-02T05:58:52.000Z"
      },
      {
        "outlet": "Ajel English",
        "title": "Trump warns of possible 'overwhelming strike' against Iran",
        "url": "https://urgent.news/2026/11/02/trump-warns-of-possible-overwhelming-strike-against-iran",
        "published": "2026-11-02T05:59:33.000Z"
      },
      {
        "outlet": "The Indian Express",
        "title": "Trump vows quick end to Iran conflict ‘one way or the other’; ‘we’ll put it away very soon’",
        "url": "https://urgent.news/2026/11/02/trump-vows-quick-end-to-iran-conflict-one-way-or-the-other-well-put",
        "published": "2026-11-02T06:09:24.000Z"
      },
      {
        "outlet": "Moneyweb",
        "title": "Oil slides with Trump reportedly open to more Iran diplomacy",
        "url": "https://urgent.news/2026/11/02/oil-slides-with-trump-reportedly-open-to-more-iran-diplomacy",
        "published": "2026-11-02T08:49:30.000Z"
      }
    ]
  },
  "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."
}