CliqNews Desk · EN
Oil falls as Middle East diplomacy eases supply fears.
Oil prices declined on Thursday as traders weighed fresh diplomatic moves in the Middle East aimed at preventing a possible resumption of US military strikes on Iran.
CliqNews Desk
29 October 2026 · 1 min
Brent crude fell 1.2 per cent to $113.90 a barrel, while West Texas Intermediate dropped 1.4 per cent to $101.34 a barrel.
The retreat followed reports that US Vice-President JD Vance contacted Mohsen Rezaei, secretary of Iran’s top security body, in a bid to restart peace talks.
Iran’s Foreign Minister, Abbas Araghchi, said Tehran was still open to diplomacy.
Oil prices had risen in the previous session on concerns that renewed military action could disrupt supplies from the region.
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