---
title: "Oil prices hit August low as Trump declares Iran conflict effectively over"
publisher: "Stockmark.IT"
author: "Stockmark.IT Website"
published: "2026-11-11T06:15:10+00:00"
modified: "2026-11-11T06:15:10+00:00"
date: 2026-11-11
canonical: "https://stockmark.it/oil-prices-fall-to-lowest-since-august-as-trump-says-iran-war-is-effec/"
category: "Oil & Gas"
categories: ["Oil & Gas", "US Economy", "USA"]
image: "https://i0.wp.com/stockmark.it/wp-content/uploads/2026/11/oil-prices-hit-august-low-as-trump-declares-iran-conflict.png?fit=1536%2C1024&quality=80&ssl=1"
format: "news"
language: "en-GB"
---

# Oil prices hit August low as Trump declares Iran conflict effectively over

**Published:** November 11, 2026
**Author:** Stockmark.IT Website
**Categories:** Oil & Gas, US Economy, USA
**Featured image:** ![Oil prices hit August low as Trump declares Iran conflict effectively over](https://i0.wp.com/stockmark.it/wp-content/uploads/2026/11/oil-prices-hit-august-low-as-trump-declares-iran-conflict.png?fit=1536%2C1024&quality=80&ssl=1)

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Global oil prices have retreated to their lowest levels since late August, while equity markets rallied, following remarks by US President Donald Trump that the conflict with Iran is effectively concluded. Brent crude, the international benchmark, dropped nearly three per cent to $89.66 on Tuesday morning. This decline follows a near six per cent fall on Monday, as investors reacted to the president downplaying the necessity for further military action against Iran at this stage.

European equities responded positively to the improved geopolitical outlook. The Stoxx 600 index, which serves as the benchmark for the region, gained 0.9 per cent to reach 662.54. This level places the index near its record high, which was established in early August on expectations of a peace deal in the Middle East. In London, the FTSE 100 climbed 45 points, or 0.4 per cent, to close at 10,828. However, the sectoral impact was mixed, with major oil companies BP and Shell recording losses of 1.7 per cent and 1.5 per cent respectively as lower crude prices weighed on their valuations.

The aviation sector benefited from the prospect of reduced fuel costs. Lufthansa shares rose 1.8 per cent, while Air France-KLM advanced 1.2 per cent. During a White House press conference, President Trump stated that Israel and Gulf allies were well protected from Iran and that an escalation was not required. He told reporters that taking military action did not seem necessary at that point, although he added that the US remained locked and loaded and ready to act if needed.

Daniela Hathorn, a senior market analyst at Capital.com, noted that global markets were extending their recovery after a strong and broad-based session on Wall Street. She attributed this to the sharp decline in oil prices and renewed buying in technology stocks. However, she cautioned that the US Federal Reserve would require more evidence of slowing inflation before reconsidering its policy stance. The latest US inflation data for October is scheduled for release at 1.30pm GMT. Hathorn warned that while lower energy prices could ease inflation expectations, persistent price pressures could keep borrowing costs elevated, posing a risk to technology valuations which remain sensitive to interest rate yields.

In the UK, the AA reported on Monday that the average petrol price had fallen five pence a litre since early October to 169.7p. The organisation indicated that wholesale markets suggested a further reduction of 10p per litre was likely, offering hope to drivers that pump prices would continue to decline.

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