crude benchmarks retreated as geopolitical risk premiums declined, with Brent falling to $92.33 and West Texas Intermediate dropping to $86.50. Market conditions were also weighed down by expanding crude supplies, as a recent survey revealed rising October output across major OPEC producers. Meanwhile, Iranian officials rejected assertions of diplomatic progress, calling reported negotiations imaginary.
Key points
Direct military escalation between Washington and Tehran has been paused despite persiste…: Direct military escalation between Washington and Tehran has been paused despite persistent regional tensions.
Increased crude production among major OPEC exporters continues to apply downward pressur…: Increased crude production among major OPEC exporters continues to apply downward pressure on global oil prices.
Comprehensive diplomatic resolution remains unlikely as Iranian leadership rejects claims…: Comprehensive diplomatic resolution remains unlikely as Iranian leadership rejects claims of active bilateral peace negotiations.
Sources checked by our analysis pipeline: 1
Nov 10 : Oil prices edged lower on Tuesday, extending losses from the previous day, after US President Donald Trump said US military action against Iran is not necessary "at this point", easing concerns about prolonged disruptions to Middle East supply.
Brent crude futures fell 24 cents, or 0.23 per cent, to $92.33 a barrel by 0102 GMT, while US West Texas Intermediate (WTI) futures fell 35 cents, or 0.40 per cent, to $86.50 a barrel.
Brent settled down 5.85 per cent in the previous session after sliding to its lowest since August 31.
Trump said on Monday he plans to hold off on new military strikes against Iran for the time being after appeals from countries in the region, including from Qatar's prime minister in White House talks.
Trump, in a Reuters interview and a later appearance in the White House press briefing room, said he plans to keep up a naval blockade in the Strait of Hormuz for now.
"The market continues to prioritise President Trump's more conciliatory tone toward Iran since the midterms," said Tim Waterer, chief…
Market activity shows Ferrexpo equity facing downward pressure during today's trading session. Current reporting indicates that trading movement remains negative while additional details concerning the slide have not yet emerged. Observers await further updates to understand the specific drivers behind this downward performance.
Regional market participants drove strong momentum across domestic equities, pushing the Jakarta exchange into firmly positive territory by the closing bell. This solid upward push reflects sustained buying interest throughout the daily trading session. The performance demonstrates continued strength for local shares as market activities wrapped up for the day.