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Brent settled at $95.84 on Friday, its second straight weekly loss, despite tanker attacks in the Strait of Hormuz. The IEA projects a 1.7 million bpd surplus in the fourth quarter as Gulf exports recover and US stockpiles build.
A returning oil surplus points to softer diesel and energy costs for feed producers, while traders are focused on diplomacy such as Qatar's proposal to reopen the strait. Thin inventories leave the market exposed to a cold snap or a fresh closure.
worldbusinesswatch.comManasee KurlekarNov 15, 2026After 338 past bearish macro events, Crude Oil (Brent) moved a median -2.2% over 5 sessions (36% higher; middle half -5.2% to +1.9%), and -1.7% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
