West Texas Intermediate (WTI) crude eased in a later Asian-session report Thursday after a 3% advance a day earlier, as diplomacy and conflict kept regional supply risks in focus.
Reuters quoted U.S. crude futures at $101.86 per barrel at 8:22 p.m. ET Wednesday (00:22 UTC Thursday), a decline of 92 cents, or 0.9%. It said prices had climbed 3% on Wednesday. FXStreet’s subsequent report, published at 1:42 a.m. ET Thursday (05:42 UTC), placed WTI near $100.50 in Asian trading. The figures came from separate reports at different times.
Reuters said market participants were judging how a wider conflict might affect oil flows from the region. A public statement from Qatar’s Ministry of Foreign Affairs on Tuesday, Oct. 27, said exchanges between Washington and Tehran continued through Qatar’s mediation channel. The ministry said the effort sought to contain the conflict and help create conditions for a diplomatic settlement.
Reuters separately reported that Qatari intermediaries had sent Iran a text aimed at ending the war with the United States and Israel. A person briefed on the negotiations called it a draft, Reuters reported; a senior Iranian official rejected its ideas as unacceptable and said they did not amount to an offer.
Yemen’s internationally recognized government said the Houthis launched two missile attacks on Aden airport Wednesday, the Associated Press (AP) reported, citing the transport ministry. AP also said gasoline price increases linked to the war were adding costs across much of the global economy and weighing on U.S. voters.
AP cited two diplomats who said U.S. officials had advised regional allies to prepare for the possibility of further military action after the midterm elections Tuesday, Nov. 3. President Donald Trump had not made a final decision, the report said.
FXStreet’s AI-assisted chart analysis described a mildly bullish near-term bias as WTI stayed above $99.33, which it identified as the 23.6% Fibonacci retracement. It placed the support zone between $96.85 and about $96.20, near the four-hour 100-period simple moving average, and listed $103.34 as resistance.
