Oil prices decline as Iran reviews Qatar proposals

U.S. futures are rising and artificial intelligence companies continue to rebound despite an internal investigation by Nvidia into its CEO Jensen Huang, who may have been the “target of a foreign intelligence effort." Energy prices are retreating with President Donald Trump set to meet Qatari Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani at the White House on Nov. 9. The Associated Press has reported that Iran was reviewing proposals presented by chief mediator Qatar aimed at addressing differences with the United States about Tehran’s nuclear program. Brent crude oil, the international standard, dropped 3.6% to $94.76 per barrel. U.S. benchmark crude fell 3.1% to $88.05 per barrel. Yet hostilities continue in the Middle East. Saudi Arabia said it intercepted incoming missiles targeting the kingdom’s capital and other regions on Nov. 8, with falling debris damaging a building belonging to the state-owned oil giant Aramco in Riyadh’s financial district. Unquestionably the AAA national price for gasoline will dip below $4/gal overnight (currently at $3.999/gal according to OPIS). That will end a stretch of 113 days where prices had a four dollar handle. Much less relief in sight for diesel. — Tom Kloza (@TomKloza) November 9, 2026 Futures for the S&P 500 climbed 0.7% on Nov. 9, while those for the Dow Jones Industrial Average gained 1%. Nasdaq futures added 0.4%. Despite recent gyrations, the S&P 500 is only 5.7% below its all-time high, which was set last month, after midterm elections in the U.S. upended markets. Shares of Nvidia slid 5% before the opening bell Nov. 9 after Nvidia said…

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