IranBrent crude fell as much as 5.6% to $92.80, a 10-week low.
President Trump said Sunday renewed strikes on Iran are highly unlikely, shifting traders’ expectations.
Dated Brent, the physical price for immediate delivery, peaked at $136.39 on 5 October and traded at $92.25 Monday.
A tanker in the Strait of Hormuz was hit Saturday by an unknown projectile, UK Maritime Trade Operations said.
Polymarket traders give a US-Iran Hormuz agreement by 31 December a 40% chance, up 7 points in a week.
How each outlet framed it
drawn from 100+ reports worldwide
- Financial Times News
- frames the drop as a bet on a negotiated end to the Iran conflict, tied to Trump's CNN remarks and the midterm defeat
- TASS
Sources: Financial Times News, TASS