Oil falls below $90, its lowest since August, as Trump says Iran war could end soon
Summary
Oil prices dropped below 90 dollars as Trump said the Iran war could end soon, The Independent and the Evening Standard reported on Tuesday 10 November, the price of Brent crude oil falling by about 3% on Tuesday morning to lows of about 89.20 dollars a barrel, the lowest price since late August. Oil prices fell below $90 a barrel for the first time since August amid renewed hopes for a Middle East ceasefire deal and an uptick in traffic through the Hormuz strait, City A.M. reported, Brent crude dropping below the symbolic milestone after Donald Trump declared the war with Iran was 'effectively over'. Falling crude prices have supported a recovery in global stocks from last week's sell-off, the Financial Times reported, and The Guardian wrote that markets climbed after the president downplayed the prospect of further strikes. The early promise faded after a hot US inflation print, the Evening Standard and The Independent headlined on Tuesday evening, writing that investors will be hoping the upcoming IPO from Anthropic will give the market a lift, and The Independent headlined that US stocks stumbled after a discouraging inflation report.
Latest: The price of Brent crude oil fell by about 3% on Tuesday morning to lows of about 89.20 dollars a barrel, the lowest price since late August, as Trump said the Iran war could end soon, The Independent and the Evening Standard reported, City A.M. writing that oil fell below $90 a barrel for the first time since August, and falling crude prices have supported a recovery in global stocks from last week's sell-off, according to the Financial Times, the Evening Standard and The Independent later headlining that early promise faded after a hot US inflation print.
Written automatically by an AI from the articles' headlines and descriptions. It can contain errors: follow the links to read the articles.
How it unfolded
Tuesday 10 November
The price of Brent crude oil fell by about 3% on Tuesday morning to lows of about 89.20 dollars a barrel, the lowest price since late August, as Trump said the Iran war could end soon, The Independent and the Evening Standard reported, City A.M. writing that oil fell below $90 a barrel for the first time since August, and falling crude prices have supported a recovery in global stocks from last week's sell-off, according to the Financial Times, the Evening Standard and The Independent later headlining that early promise faded after a hot US inflation print.
- 12:30The Independent Early promise fades after hot US inflation print
- 12:25Evening Standard Early promise fades after hot US inflation print
- 10:01The Independent US stocks stumble after discouraging inflation report
- 08:49City A.M. Oil prices fall below $90 for first time since August
- 06:15Evening Standard Oil prices drop below 90 dollars as Trump says Iran war could end soon
- 06:15The Independent Oil prices drop below 90 dollars as Trump says Iran war could end soon
- 05:28The Guardian Oil prices fall to lowest since August as Trump says Iran war is ‘effectively over’
- 02:54Euronews Oil prices continue to fall on hopes of US-Iran peace deal talks
- 05:08Financial Times SubscribersOil falls below $90 as Trump pulls back from threat to strike Iran