Oil prices drop below $90 a barrel for the first time since late August as markets react to US President Donald Trump playing down the risk of renewed conflict with Iran. Multiple outlets report that Brent crude falls by around 3% to just under $90, while West Texas Intermediate also declines.
The moves come alongside reports that talks involving Kyiv, Moscow and Washington begin, contributing to broader optimism. Several outlets frame the drop as a “war premium” fading as investors price in lower chances of strikes or escalation. Bloomberg and CNBC emphasise Trump’s comments that further military action would not be required “at this point” or “fairly soon,” while CNBC adds that some analysts still doubt any lasting peace deal.
Other coverage highlights the wider market response, with the Financial Times and The Guardian noting stock market recovery. NDTV focuses on the size of the recent sell-off in crude futures over the past month, positioning the $90 breach as part of a longer downward move rather than a single-day reaction.
