Markets · Commodity markets, November 2
Oil prices fall more than 7% as Iran and Qatar signal openness to peace talks
Monday, November 2, 2026. From GEO's evening brief, after the close.
Oil prices fell sharply today as Iran and Qatar signaled openness to peace talks, Marine News Magazine reports, with WTI down 7.36% and Brent down 7.63%. Refined products followed, as RBOB gasoline dropped 8.12% and ULSD fell 5.44%. Precious metals moved the other way, with silver up 3.27% and gold up 1.81%, as Kitco ties the recovery to falling oil. Henry Hub natural gas slipped 1.45%, and coffee rose 2.42%.
What moved
Change from the prior settle, at the time of the evening brief.
| Crude | |
|---|---|
| WTI | −7.36% |
| Brent | −7.63% |
| Refined | |
| RBOB | −8.12% |
| ULSD | −5.44% |
| Nat Gas | |
| Henry Hub | −1.45% |
| Metals | |
| Gold | +1.81% |
| Silver | +3.27% |
| Copper | +1.32% |
| Platinum | +1.28% |
| Palladium | −1.94% |
| Agriculture | |
| Corn | +0.11% |
| Soybeans | −1.42% |
| Wheat | +0.50% |
| Cotton | −0.32% |
| Sugar | −1.86% |
| Coffee | +2.42% |
| Cocoa | −1.12% |
| Livestock | |
| Lean Hogs | −1.19% |
| Live Cattle | −0.57% |
| US dollar index | |
| Dollar index (DXY) | −0.09% |
Written with AI from public sources, checked by code, reviewed by GEO. Not investment advice.