# Oil prices fall to lowest since August as Trump says Iran war is ‘effectively over’

- URL: https://talkfuse.com/story/oil-prices-fall-to-lowest-since-august-as-trump-says-iran-war-is-effectively-over/
- Published: 2026-11-10T09:52:47+00:00
- Updated: 2026-11-10T10:03:25+00:00
- Original publisher: The Guardian (publisher lean: Left)
- Original article: https://www.theguardian.com/business/2026/nov/10/oil-prices-fall-donald-trump-iran-war-ftse-100-markets
- Topics: Business, Government, Markets, Middle East, Politics, Software, Technology, World

## Key points

- Brent crude fell to $89.66, its lowest since 31 August.
- European shares rose as Trump played down further strikes on Iran.
- UK petrol prices may fall further as wholesale oil costs ease.

## Summary

Oil prices fell to their lowest level since late August and European shares rose after Donald Trump said the war with Iran was “effectively over” and suggested further military action was not currently necessary. The market reaction reflected hopes that easing tensions could reduce energy costs, although economic and corporate risks remain.

Brent crude dropped nearly 3% to $89.66 a barrel on Tuesday, following a fall of almost 6% on Monday. The Stoxx 600 rose 0.9% and London’s FTSE 100 gained 0.4%; airlines advanced while BP and Shell fell. The AA said UK petrol averaged 169.7p a litre, down 5p since early October, with wholesale prices suggesting a further 10p reduction could follow.

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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.