Brent crude forecast to fall 16% weekly... Trump discusses Iran with Qatar's emir

President Trump spoke with Qatar’s Emir Tamim bin Hamad Al Thani on Thursday about diplomatic efforts to defuse the regional crisis over Iran, with Doha positioning itself as a mediator. Brent crude for January 2027 delivery traded at $98.60 a barrel, putting the contract on track for a weekly decline of roughly 16%. Qatar’s royal court said the two leaders discussed de-escalation efforts and Qatari mediation, as well as ways to strengthen bilateral ties, and that Doha aims to narrow gaps between the parties and support negotiations toward a comprehensive agreement. The call matters because oil markets are pricing in reduced supply risk from the Iran standoff, and traders will watch whether the mediation track produces concrete talks or collapses back into escalation.