{
  "id": 17984770,
  "title": "Brent Flash Crashes $6 Before Rebounding Towards $104",
  "url": "https://urgent.news/2026/11/03/brent-flash-crashes-6-before-rebounding-towards-104",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-03T15:35:00.000Z",
  "source": {
    "name": "OilPrice",
    "slug": "oilprice",
    "url": "https://oilprice.com/Latest-Energy-News/World-News/Brent-Flash-Crashes-6-Before-Rebounding-Towards-104.html"
  },
  "original_language": "en",
  "account": "Brent crude prices tumbled over $6 per barrel in the early hours of Tuesday, plummeting from $107.24 to $100.80 before rebounding to around $104, as traders responded to conflicting reports about U.S.-Iran peace negotiations. This drop came after a 7.6% decline on Monday, which had brought Brent to $104.77. Early in the day, there were reports of U.S. strikes on Iran's Qeshm Island, near the Strait of Hormuz, leading to an initial rebound in prices. However, these hopes were quickly dashed when it became clear that the initial reports may have been inaccurate.\n\nThe initial panic began moments before a Bloomberg headline broke, claiming that Iran's supreme leader had authorized negotiations on previously non-negotiable issues. This claim was later disputed, as Iranian President Masoud Pezeshkian only stated that the supreme leader had granted the government additional negotiating authority. The source of the conflicting reports created confusion for traders, resulting in another sharp drop in prices around 8:20 a.m. Eastern time, coinciding with an Al Jazeera report that Washington had approved a draft agreement presented through Qatari mediators.\n\nFurther reports suggested that there were concessions involving Iran's nuclear program and frozen assets. However, a senior Iranian official denied any breakthrough in the negotiations, stating that an official agreement was still far off. Tehran has consistently maintained that its conditions must be met before the Strait of Hormuz can reopen, and nuclear negotiations can begin. In essence, the situation has not changed substantially.\n\nDespite these competing reports, the uncertainty surrounding Tuesday's trading was evident. Momentum trading and automated orders may have contributed to the amplified price swings. By mid-morning, Brent had recovered nearly $3 from its session low, but the Strait of Hormuz remained restricted, and the reported diplomatic breakthroughs remained unverified.",
  "summary": "Brent crude plunged more than $6 per barrel Tuesday morning, falling from $107.24 to $100.80 before recovering to around $104 shortly after 10 a.m. Eastern, as traders reacted to a succession of conflicting reports about U.S.-Iran peace negotiations. The selloff followed Monday's 7.6% decline, which left Brent at $104.77. Prices initially rebounded overnight after reports of U.S. strikes on…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "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."
}