{
  "id": 19128556,
  "title": "Oil falls as Trump says new Iran attacks ‘unlikely’",
  "url": "https://urgent.news/2026/11/09/oil-falls-as-trump-says-new-iran-attacks-unlikely-19128556",
  "topic": "world",
  "section": "World",
  "published": "2026-11-09T08:51:48.000Z",
  "source": {
    "name": "Adom Online",
    "slug": "adom-online",
    "url": "https://www.adomonline.com/oil-falls-as-trump-says-new-iran-attacks-unlikely/"
  },
  "original_language": "en",
  "account": "Oil prices declined at the start of the Monday trading session following US President Donald Trump's assertion that he was highly unlikely to order fresh attacks on Iran during ongoing negotiations aimed at resolving the conflict. Despite reports of attacks on vessels in or close to the Strait of Hormuz from both Iran and the US, Brent crude slipped 84 cents, or 0.85%, to $97.48 per barrel by 0138 GMT, while West Texas Intermediate lost 32 cents, or 0.35%, to $90.51 a barrel. This downturn followed a brief rise on Friday as traders evaluated the potential for additional US strikes on Iran. However, the drop in Brent's price was significant, marking a 17% decline last week, the steepest weekly slide since the onset of the COVID-19 pandemic and the largest in absolute terms since records began in 1988, according to LSEG data.\n\nIn a phone conversation with CNN, Trump stated that he was \"highly unlikely\" to resort to new Iran attacks, emphasizing the importance of a \"very strong agreement\" in the ongoing talks. The president had previously suggested the resumption of strikes on Iran after the recent US midterm elections, but no substantial military operation has been observed thus far. Iran has threatened retaliation against US and Israeli targets should the conflict persist.\n\nTim Waterer, chief analyst at KCM Trade, described Trump's remarks as \"more measured,\" but noted that the market remains uncertain about whether the midterms have sparked a permanent shift in Trump's stance on the issue or if it is merely a temporary change in tone. The market is presently grappling with the prospect of an oil surplus, as rising Middle Eastern oil output, augmented by production from other nations, combined with weak demand, has pushed global supply above consumption levels. JPMorgan estimated a surplus of 1.1 million barrels per day in September, which could expand to 1.4 million bpd in October.\n\nOn Sunday, Iraq and the US reached an agreement to allow Iraqi oil exports to proceed through the Strait of Hormuz via a shipping lane near Oman, according to Foreign Minister Fuad Hussein in an interview with Al Jazeera. Hussein highlighted that Iraq has suffered $60 billion in losses due to the Iran war and disruptions to oil exports. The Houthis also claimed responsibility for an attack on Saudi Aramco's offices in Riyadh on Sunday, causing window damage but no reported injuries.",
  "summary": "Oil prices fell at Monday’s open after US President Donald Trump said he was highly unlikely to order new Iran attacks while talks to end the conflict make progress, despite both nations’ reports of attacks on ships in or near the Strait of Hormuz. Brent was down 84 cents, or 0.85%, to $97.48 a barrel […]",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "MyJoyOnline Ghana",
        "title": "Oil falls as Trump says new Iran attacks ‘unlikely’",
        "url": "https://urgent.news/2026/11/09/oil-falls-as-trump-says-new-iran-attacks-unlikely",
        "published": "2026-11-09T02:19:00.000Z"
      },
      {
        "outlet": "Business Recorder",
        "title": "Oil falls as Trump says new Iran attacks 'unlikely'",
        "url": "https://urgent.news/2026/11/09/oil-falls-as-trump-says-new-iran-attacks-unlikely-19098799",
        "published": "2026-11-09T04:58:05.000Z"
      }
    ]
  },
  "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."
}