Oil Falls ~2% as Qatari Mediators Arrive in Tehran; Hormuz Risk Persists

Brent fell about 2% to roughly $114.5 and WTI to about $101 on Oct 26 as Qatari mediators arrived in Tehran to try to restart US-Iran talks. Traders still price high Hormuz risk: commercial transits remain a fraction of normal and Iran's recent tanker-strike claims are unverified. Sourcing is Tier 3-4 market outlets; price levels vary between outlets and should be treated as approximate.