Oil falls as Trump plays down new Iran strikes
Oil prices fell after US President Donald Trump said renewed attacks on Iran were highly unlikely if negotiations made progress. Brent slipped to about $97.67 a barrel and West Texas Intermediate to about $90.51, according to Business Standard. Traders nevertheless continued to weigh the risk that conflict could disrupt regional shipping and supply.
Why it matters
Lower escalation risk can ease India's import bill, though crude remains exposed to rapid moves as diplomacy and conflict evolve.
Sources
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Part of the November 9, 2026 brief.