International

Global oil prices

Minute mirror

By Staff Report

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Global oil prices — Photo credit: Minute mirror

Summary

His remarks raised hopes that diplomatic efforts could reduce tensions in the Middle East and protect global oil supplies.
The incidents raised fears of supply disruptions, particularly through the Strait of Hormuz, a major route for global oil shipments.
Oil prices remain sensitive to political tensions, supply disruptions and changes in investor expectations.

AI Generated Summary

October 10, 2026

Global oil prices fell on Friday after US President Donald Trump indicated progress in talks with Iran and said Washington did not plan an immediate military attack, according to international media reports.

Brent crude futures dropped by 72 cents, or 0.7 per cent, to $103.53 per barrel. US West Texas Intermediate (WTI) crude fell by 52 cents, or 0.6 per cent, to $90.97 per barrel.

Trump said the United States was involved in productive negotiations with Tehran and had no plans to attack Iran before the US midterm elections scheduled for November 3. His remarks raised hopes that diplomatic efforts could reduce tensions in the Middle East and protect global oil supplies.

Originally published by Minute mirror on Oct 10, 2026 Read the full article at minutemirror.com.pk

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