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The Iran War Isn't Over, but Oil Traders Are Already Pricing In Peace
Oil prices plunged 15% this week as hopes of a U.S.-Iran peace deal fueled bearish sentiment, despite continued attacks in the Strait of Hormuz. Friday, November 06, 2026 Oil prices are set to record one of the steepest weekly losses in recent memory, with ICE Brent sliding a hefty 15% week-on-week to $99 per barrel on expectations of US-Iran diplomatic progress and a weakening window of opportunity for the Trump administration to continue hostilities in the Middle East. Whilst talk of a global supply glut might be a little premature –…
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This article lines up with London gold vs COMEX, What is COMEX gold?, and Reading today’s gold: BOT vs COMEX. Figures are for reference only — not a shop or bank board price.
- London gold vs COMEXLondon-gold searches meet a COMEX reference here. The global London row is FX only — no invented fix.
- What is COMEX gold?How to read USD/oz futures and relate them to jewelry quotes.
- Reading today’s gold: BOT vs COMEXHow COMEX USD and BOT FX make a theoretical index — not a shop board.
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