# Oil falls on Iran peace hopes

> Brent crude drops to two-week low as Tehran signals willingness to negotiate with the US over their eight-month war.
- Title: Oil falls on Iran peace hopes · the Guardian | Shortify
- Summary: Brent crude drops to two-week low as Tehran signals willingness to negotiate with the US over their eight-month war. Oil prices fell to their lowest in two…
- Keywords: oil prices, brent crude, iran, us foreign policy, strait of hormuz, middle east conflict, news, world, Oil, falls, peace, hopes
- Source: the Guardian — https://theguardian.com/business/2026/nov/02/oil-price-falls-amid-hope-of-a-breakthrough-to-end-iran-war
- Published: 2026-11-02T17:14:23+00:00
- Read time: 1 min
- Topics: oil prices, brent crude, iran, us foreign policy, strait of hormuz, middle east conflict, news, world
## Brent crude hits two-week low
Brent crude dropped more than six point five percent to one hundred five dollars fifty-five cents a barrel on Monday, the lowest since October sixteenth.
## Iran signals ongoing negotiations
Iranian foreign minister Abbas Araghchi said consultations through mediators with the US to end their eight-month war were very intensive. Everything depends on Washington's political rationality.

> Consultations through mediators are very intensive. We have presented our conditions and proposals and everything depends on the political rationality of Washington.
## Qatar negotiates Iranian asset release
Over the weekend, Qatari officials tried to negotiate the release of more than six billion dollars in Iranian assets so Tehran might allow the strait of Hormuz to reopen.
## Trump threatens Iran while markets rally
Donald Trump told Iowa voters Iran would receive the hammer unless there was progress, but investors were cheered by reports that Iran's supreme leader Mojtaba Khamenei granted powers to his government in talks with the…

> The only reason why I'm not finished with Iran is I want to be nice. I want to try and save all those lives if I can.
## Lower oil eases inflation pressures
The oil price drop sparked hopes of relief from inflationary pressures. UK ten-year bond yields fell ten basis points to their lowest since September twenty-second. Airline shares rose sharply.
## Key takeaway

Oil prices fell to their lowest in two weeks after Iran signalled it was negotiating with the US to end their eight-month war, easing inflation fears.