Brent Crude Oil Price: $94 Thursday After Wednesday’s…
By Tobi Opeyemi Amure
AI summary of the source article
Brent crude traded near $94 a barrel on Thursday following a roughly 9 percent drop on Wednesday. The sell-off came as traders priced in a potential US-Iran settlement, reducing the prompt war premium.
Why it matters
The shape of the move matters. The front of the curve fell the most and the back the least, so the January-December 2027 spread shrank by $3.76. That is what happens when a war premium comes out of prompt barrels.
Key facts
- Brent crude traded at $94.12 a barrel on Thursday morning following a Wednesday drop of roughly 9 percent.
- The January–December 2027 spread narrowed from $18.72 to $14.96 as the front of the curve fell the most.
- Prices dropped following signals of a US-Iran deal, including Donald Trump stating Washington has no immediate plans to strike Iran.
Source excerpt · FinanceFeeds
Updated 5 November 2026, 07:00 GMT. Brent crude traded at $94.12 a barrel at 06:35 GMT on Thursday, down 0.53 percent (ICE data via DealPlexus), with the January 2027 contract at $94.17 on Investing.com and an overnight range of $93.50-$94.77. That comes after Wednesday's crash of roughly 9 percent, as traders priced a US-Iran settlement. Feeds disagree on the exact close: $93.52, down 9.73 percen…