Brent Jumps About 3% After Trump Says the US Does Not Need a Deal With Iran; European Gas Climbs Nearly 10%

Energy prices rose on Thursday 12 November 2026 (21 Aban 1405) after Donald Trump said "we don't need a deal with Iran" and claimed the US holds Iran's money and the Strait. Anadolu Agency reported that Brent crude jumped 3.6% to nearly $96 a barrel in its Thursday report, though it was still 4.9% lower on the week; West Texas Intermediate rose 2.9% to about $89 (down 4.5% on the week). As of 21:45 GMT, Brent showed a 3.22% gain at $95.75 and WTI a 2.55% gain at $88.74, while European natural gas had surged 9.79% to €95.14 per megawatt-hour.

US stocks closed lower at the same time: the Dow Jones fell 189.40 points (0.36%) to 52,297.09, the S&P 500 about 0.35% to 7,592.40 and the Nasdaq 0.39% to 25,366.09, while the VIX volatility index rose 7.26% to 18.76. Besides the Iran tension, Anadolu pointed to the exit of Nvidia's chief executive and fresh US jobless-claims data.