Oil prices fall as hopes for peace in the Middle East reduce supply concerns

Updated 2026-10-30 · told from many outlets at once

Oil prices fell on Thursday as markets reacted to improved peace prospects in the Middle East, amid a Houthi missile attack on Saudi territory.

Brent crude fell by $0.85, or 0.74%, to $114.50 a barrel.
US Vice President JD Vance contacted Mohsen Rezaei, secretary of Iran’s top security body.
The Saudi-led coalition destroyed a ballistic missile fired by the Houthis towards the kingdom's eastern region.
Yemeni government forces said the Houthis attacked Aden airport on Wednesday.
Qatari mediators presented a new proposal to end the conflict involving Iran, the U.S., and Israel.

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