Brent crude falls below $90 as Trump says no military action on Iran

Cointime update: Brent crude fell below $90 a barrel on November 10 after President Trump said military action against Iran was “not necessary at present,” pushing both Brent and WTI to their lowest levels since late August. ING analysts said part of the geopolitical risk premium priced into oil in recent weeks is continuing to fade as markets expect an easing of US-Iran tensions. Signs of recovering oil shipment flows in the region also weighed on prices, though fragile regional talks and risks to energy infrastructure leave the outlook uncertain.