Oil Prices Fall as Markets Anticipate Easing of Middle East Tensions

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Oil prices.

Oil prices fell on Thursday, 5 November 2026, extending losses following a sharp decline in the previous session, as markets anticipated a possible easing of tensions in the Middle East.

Brent crude futures dropped 0.85% to $93.82 a barrel, while US West Texas Intermediate (WTI) crude fell 1.36% to $86.92.

Both benchmarks had plunged by more than 8% in the previous session amid growing expectations of reduced escalation in the US-Israeli conflict with Iran.

Market sentiment has been influenced by hopes that a potential resolution could help restore oil supplies from the Middle East, easing concerns over disruptions to global energy markets.

However, analysts have warned that prices remain sensitive to developments in the region, with renewed escalation potentially triggering further volatility and increases in oil prices.


PUKMEDIA