Oil prices moved lower on October 9, 2026, as immediate fears of a fresh supply shock in the Middle East eased.
US President Donald Trump said Washington would not attack Iran before the November midterm elections and described ongoing discussions with Tehran as productive. The comments reduced some of the pressure that had pushed crude prices higher earlier in the week.
Brent and WTI retreat
Brent crude futures fell to around $102.91 a barrel, while US West Texas Intermediate dropped to about $90.40 in early trading, according to Reuters.
Markets remain sensitive to developments around the Strait of Hormuz, sanctions on Iranian oil and disruptions to production elsewhere, including weather-related outages in the Gulf of Mexico.
Related: Follow more World news and read our RBI policy update for the India-side economic impact.
This report is based on Reuters reporting published October 9, 2026.
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