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Oil prices fell for a second consecutive week, with Brent and WTI down about 2.5% on the week, after an IEA report pointed to a rising global oil surplus. Lower Iran-related risk and easing tensions weighed on prices despite Houthi strikes on Saudi infrastructure and tanker attacks in the Gulf.
A growing crude surplus lowers energy and transport costs for feed and fertilizer supply chains and eases biofuel feedstock pricing pressure. The weekly decline reinforces a bearish energy backdrop for agricultural commodities.
sundayworld.co.zaReutersNov 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.
