EconomyMonday, 9 November 2026·The Hindu - Economy
Oil prices fall as Brent drops to $97.48 after Trump signals new Iran attacks are unlikely
On 9 November 2026, Brent crude fell to $97.48 a barrel after Donald Trump said new Iran attacks were highly unlikely.
Key highlights
Direct fact
On November 9, 2026, Brent crude fell to $97.48 a barrel and West Texas Intermediate to $90.51 after U.S. President Donald Trump said new Iran attacks were highly unlikely.
Key specifics
- Brent crude fell by 84 cents, or 0.85%, to $97.48 a barrel at the open on November 9, 2026.
- West Texas Intermediate fell by 32 cents, or 0.35%, to $90.51 a barrel.
- Brent had fallen 17% in the previous week, the steepest weekly drop since the start of the COVID pandemic.
- JPMorgan estimated a surplus of 1.1 million barrels per day in September 2026, widening to 1.4 million bpd in October.
- Iraq said its losses from the Iran war and oil export disruptions had reached $60 billion.
Exam lens
Question type: Economy and energy market current affairs, Brent at $97.48, WTI at $90.51, 17% weekly fall, 1.1 million bpd surplus. TNPSC may ask which benchmark crude is quoted in global oil price reports.