Oil Price Today: Brent Falls 4.96% to 93.44 on Iran Peace Hopes as Gold Climbs
Brent fell 4.96% to $93.44 and WTI dropped 4.6% to $86.65 on Monday as hopes for a diplomatic end to the Iran war grew, while gold rose 1.4% and European stocks gained.
Oil extended its slide on Monday as traders bet on a diplomatic end to the Iran war. Brent crude fell 4.96% to $93.44 a barrel by 14:05 GMT, down from $98.32 at the previous close, while US West Texas Intermediate dropped 4.6% to $86.65 from $90.83.
The drop is the sharpest move on the board this session and has spilled into currencies, metals and equities. Gold rose 1.4% to $4,123 an ounce, the dollar index slipped 0.49% to 101.795, and the VIX volatility gauge fell 10.61% to 22.92.
Why oil is falling
Crude came under pressure on expectations that Washington and Tehran may be moving toward a deal. Qatar, which has mediated indirect contacts between the two sides, was due to meet President Donald Trump at the White House on Monday, and Trump said he sees no reason to escalate the conflict. Doubts remain over how far the talks have actually advanced, and attacks on shipping near the Strait of Hormuz have kept supply risks in view.
The move adds to a decline that has been running for more than a week, and it leaves both benchmarks well below Friday's levels. For energy-importing economies such as Indonesia, cheaper crude is a relief on the import bill; the rupiah firmed 0.13% to 18,080.72 per dollar. Track the live benchmarks on the Brent and WTI pages.
Metals, rates and the dollar
A softer dollar helped precious and industrial metals. Silver gained 1.75% to $52.85 an ounce and copper rose 1.48% to $6.3295 a pound. Natural gas bucked the trend in energy, jumping 4.7% to $3.139 per MMBtu. Gold's advance can be followed on the gold page.
The US 10-year yield eased to 4.839%, down 0.41% on the day, and the euro firmed 0.5% to $1.1199 against the dollar. The yen was a touch stronger, with USD/JPY down 0.3% at 157.95.
Equities: Europe leads, Tokyo rebounds
European shares were broadly higher in afternoon trade. The Euro STOXX 50 rose 1.63% to 6,271.04, Germany's DAX gained 1.35% to 26,168.94, the CAC 40 added 1.1% to 8,228.23 and London's FTSE 100 climbed 0.82% to 10,761.39. Miners were among the strongest in London, with Antofagasta up 3.6%, Endeavour Mining up 3.59% and Fresnillo up 2.94%.
In Asia, Tokyo's Nikkei 225 closed 2.33% higher at 58,775.5, extending a rebound. Jakarta's IHSG ended 0.46% higher at 5,073.77, with LQ45 up 0.79%. Hong Kong's Hang Seng slipped 0.13% to 24,448.95. Details are on the Nikkei 225 and IHSG pages, and our earlier IHSG close report covers the Jakarta session.
Wall Street's last full session was Friday, when the S&P 500 rose 0.32% to 7,376.86 and the Nasdaq gained 1.09% to 24,579.42, while the Dow fell 0.46% to 51,285.73. Nvidia's slide in premarket trade on reports about its chief executive is covered in our Monday market report.
What to watch next
The first test is the outcome of the White House meeting and any statement on the Iran talks, which will decide whether crude's drop holds or reverses. Any fresh incident near Hormuz would put supply risk back at the centre of pricing.
On the corporate calendar, The Trade Desk and Take-Two Interactive report after the US close on Monday, with Applied Materials and Cisco following on 12 November. Investors will also watch whether volatility stays subdued if oil swings again.
Markets at a glance
| Market | Last | Change | % Change |
|---|---|---|---|
| Brent | 93.44 | −4.88 | −4.96% |
| WTI | 86.65 | −4.18 | −4.60% |
| Gold (spot) | 4,122.97 | +56.94 | +1.40% |
| Silver | 52.85 | +0.91 | +1.75% |
| Copper | 6.330 | +0.092 | +1.48% |
| Natural Gas | 3.139 | +0.141 | +4.70% |
| USD/IDR | 18,081 | −24 | −0.13% |
| S&P 500 | 7,376.86 | +23.13 | +0.32% |
Data as of 9 Nov 2026, 21:05 WIB (14:05 GMT). Source: JournalArta Markets (Yahoo Finance, Twelve Data); some exchange data may be delayed up to 15 minutes. Follow live prices on JournalArta Markets. This article is for information only and is not investment advice.
