QCP Says Brent’s 18% Drop Eases Rate Pressure as Iran Risks Persist

Brent crude’s roughly 18% retreat since Oct. 30 has eased rate pressure in QCP Capital’s analysis, while unresolved Iran negotiations and diverging central-bank decisions leave inflation risks in focus.

Brent settled at $92.57 a barrel after falling 5.85% in one session, then declined further. After meeting Qatar’s prime minister on Nov. 9, Trump said he would pause another round of military strikes against Iran while keeping a blockade in place. Positions remain far apart, with no agreement.

The Reserve Bank of Australia raised its rate to 4.85% in a 6-3 vote and removed language indicating further increases might be needed. The Bank of England raised its rate to 4% in an 8-1 vote. The Bank of Canada and Bank of Japan held rates steady, while market pricing for rates in both countries moved lower.

Canada’s employment count fell by 4,700, compared with expectations for a 14,000 increase. Japan’s Nikkei 225 fell 6%, and the yield on two-year Japanese government bonds declined 12.8 basis points.

Bitcoin (BTC) spot ETFs recorded $1.2324 billion in combined net outflows from Nov. 2-6. The market update connects with TokenPost’s earlier coverage of QCP’s discussion of Middle East risks and ETF outflows. QCP’s central question is whether lower oil will continue to ease rate pressure or stalled Iran negotiations will renew inflation risks and put rate increases in Canada and Britain back in focus.