Brent sinks to US$104.77 on Iran-US talks
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What the chart shows
Brent was US$71.59 a barrel on the last Monday of June and US$128.12 on the last Monday of October. Attacks on tankers near the Strait of Hormuz ran through October, the month that added 13.6% to the price.
This week opened differently. Iran's foreign minister, Abbas Araghchi, said a deal is possible if Washington is serious about wanting one, and Brent settled at US$104.77 on Monday.
Cheaper crude matters beyond the pump, because it feeds straight into inflation figures and from there into what the Federal Reserve does in December. But no agreement exists yet, and the ships still have to get through the strait.
The story behind it
Oil fell more than 7% because Iran and the United States started talking Read the edition →On the calendar
The US releases that move markets, in New Zealand and Australian time. Economic calendar →The numbers
Brent crude in US$ a barrel, each Monday from 29 June to 2 November 2026. It was US$128.12 a week before Monday's fall, and no deal has been signed.
| Brent crude, US$ a barrel, each Monday | |
|---|---|
| 29 Jun 2026 | US$71.59 |
| 6 Jul 2026 | US$69.56 |
| 13 Jul 2026 | US$81.62 |
| 20 Jul 2026 | US$86.99 |
| 27 Jul 2026 | US$91.82 |
| 3 Aug 2026 | US$88.90 |
| 10 Aug 2026 | US$92.74 |
| 17 Aug 2026 | US$92.43 |
| 24 Aug 2026 | US$92.71 |
| 1 Sep 2026 | US$96.02 |
| 7 Sep 2026 | US$104.47 |
| 14 Sep 2026 | US$121.25 |
| 21 Sep 2026 | US$116.15 |
| 28 Sep 2026 | US$119.97 |
| 5 Oct 2026 | US$125.51 |
| 12 Oct 2026 | US$129.95 |
| 19 Oct 2026 | US$118.82 |
| 26 Oct 2026 | US$128.12 |
| 3 Nov 2026 | US$104.77 |
19 rows: scroll the table for the rest.
How we make these charts: one chart a day from a story in the edition, drawn from the figures the story names and checked against the sources named on the chart before it is published. General information only, not financial advice.
