Business
Oil Prices Ease on Middle East De-Escalation Hopes; Gold Retreats Ahead of Fed Meeting
October 27, 2026 at 07:59 AM
Brent crude slipped from six-month highs Tuesday as diplomatic talks in Tehran tempered supply fears, while gold fell on a stronger dollar.
- Brent fell 0.49% to $115.20 a barrel before recovering to $116.10, while WTI traded at $102 after touching $101.20.
- Saudi Arabia, Turkey, and Pakistan held talks with Iranian officials in Tehran on Monday to ease Middle East tension.
- Saudi Arabia said the visit aimed to open negotiation channels that prevent a return to military escalation.
- Gold fell 0.33% to $4,003.50 an ounce Tuesday after sliding below $4,000 last week for the first time since July.