Last night on The Power Grid with Priya Desai
Oil Slides Below $90 as Trump Signals the Iran War Is ‘Effectively Over’
Crude hit its lowest level since late August and stocks climbed after the President played down the chance of new strikes.
Filed November 10, 2026 · 📍 Washington, DC 20001
Were you there? Share your story
Key points
- Brent crude fell below $90, the lowest since late August.
- Trump said the Iran war is “effectively over.”
- Iran denied that talks are planned.
- Lower crude could bring relief at the pump this winter.
Oil prices fell to their lowest level since late August after President Trump said the war with Iran is "effectively over," The Guardian reported, with Brent crude dropping below $90 a barrel and stock markets climbing [1].
The President spoke after meeting Qatar's prime minister, a key mediator, and said further strikes were "quite unlikely" while warning the U.S. remains "locked and loaded," Euronews reported [3]. Semafor reported Trump downplayed the prospect of a return to full conflict [2]. The Financial Times reported falling crude has helped global stocks recover from last week's sell-off [4].
Tehran is not playing along publicly. Iran's security chief told Washington to stop "manufacturing fake news about imaginary talks," according to Euronews [3].
For American families, the direction matters more than the diplomacy. Gas prices have already slipped below $4 a gallon nationally for the first time since July, according to AAA. If crude keeps falling, relief at the pump and on heating bills could finally arrive in time for winter.
Sources
Should Congress speed up permits for pipelines and power plants?
- Yes, build more American energy
- Yes, but respect tribal and local input
- No, keep environmental reviews
More in Energy & Environment
Oil Rebounds From Two-Month Low as Hormuz Attacks Offset Iran Peace Hopes; Saudi Output Surges
Today on The Power Grid with Priya Desai
Maryland Activist Celebrates Blocking a $5 Billion Data Center on a Long-Dead Mall Site
Overnight on The Power Grid with Priya Desai
Trump Urges Senate to Speed Pipeline and Power Plant Permits Before Democrats Take Over
Last night on The Power Grid with Priya Desai
Were you there?
If you were at the scene, or this story touched your life, tell us what you saw and what it was like.
Discussion 0
Sign in or create a free account to join the discussion.
No comments yet. Start the discussion.