# Brent falls to two-week low as US-Iran peace talks advance

- URL: https://talkfuse.com/story/oil-price-falls-amid-hope-of-a-breakthrough-to-end-iran-war/
- Published: 2026-11-02T16:37:24+00:00
- Updated: 2026-11-02T17:07:23+00:00
- Original publisher: The Guardian (publisher lean: Left)
- Original article: https://www.theguardian.com/business/2026/nov/02/oil-price-falls-amid-hope-of-a-breakthrough-to-end-iran-war
- Topics: Business, Middle East, World

## Key points

- Brent crude fell more than 6.5% to $105.55 a barrel.
- Reports of continuing US-Iran talks boosted market hopes.
- Airline shares rose as bond yields and oil prices fell.

## Summary

Brent crude fell by more than 6.5% to $105.55 a barrel, its lowest level in over two weeks, as investors responded to signs that Iran and the United States may be making progress towards ending their eight-month war. The fall lifted airline shares and lowered government borrowing costs, while raising hopes of relief from inflationary pressures linked to higher energy prices.

Iran’s foreign minister said talks through mediators were continuing, and reports said Iran’s supreme leader had given the government powers in negotiations. Qatar had also sought the release of more than $6bn in Iranian assets in connection with reopening the Strait of Hormuz. The 10-year UK bond yield fell 10 basis points to its lowest since 22 September; IAG shares rose 4.2% and United Airlines gained 7%. Donald Trump had warned Iran could face further action if talks failed, leaving uncertainty over whether a breakthrough will be reached.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.