{
  "id": 19683327,
  "title": "Brent Briefly Hits $94 After Trump Says U.S. Has No Need for Iran Deal",
  "url": "https://urgent.news/2026/11/12/brent-briefly-hits-94-after-trump-says-u-s-has-no-need-for-iran-deal",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-12T17:30:00.000Z",
  "source": {
    "name": "OilPrice",
    "slug": "oilprice",
    "url": "https://oilprice.com/Latest-Energy-News/World-News/Brent-Briefly-Hits-94-After-Trump-Says-US-Has-No-Need-for-Iran-Deal.html"
  },
  "original_language": "en",
  "account": "President Donald Trump announced on Thursday that the United States no longer requires the Iran deal, following a brief surge in oil prices. Trump's remarks came shortly after suggesting that the eight-month conflict with Iran may be nearing its conclusion. In a statement on Truth Social, Trump declared, \"We don't need a deal with Iran. Those days have long since passed,\" emphasizing that the United States now controls Iran's finances and the Strait of Hormuz. This marked a significant shift from his previous comments, when he described the war as \"militarily effectively over\" and expressed optimism about ending the conflict. Earlier in November, Trump had even suggested that a settlement could be imminent, reflecting a more positive outlook. However, the market reacted negatively to his latest proclamation, as Brent crude oil initially rose before falling to approximately $93.79 per barrel by late morning, marking a 1.1% increase. Iran has not shown any inclination to alter its stance, with Supreme National Security Council secretary Mohsen Rezaee stating that Tehran would not relinquish any enriched nuclear material. Iran also reported that four tankers had been struck by explosions over two days, though these claims have yet to be independently verified. Despite diplomatic uncertainties, Middle Eastern crude supplies have improved, with Saudi Arabia reporting a 26% increase in October production, and Iraq also boosting output. This surge in supply has contributed to the pressure on oil prices, even though shipments continue to depend on alternative routes, ship-to-ship transfers, and military protection. The market remains highly sensitive to diplomatic statements and renewed threats against tankers, leaving oil futures unusually volatile.",
  "summary": "President Donald Trump declared Thursday that the United States no longer needs a deal with Iran, just three days after suggesting the eight-month war was nearing its end. Oil prices promptly jumped, adding another round of volatility to a market that has spent November reacting to shifting expectations for peace. \"We don't need a deal with Iran. Those days have long since passed,\" Trump wrote 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."
}