# Oil settles up but posts biggest weekly decline since Nov | Reuters

> Oil settled higher on Friday but posted its steepest weekly decline since November, down 5-6% after a 20% rise the prior week. Traders assessed possible supply gains from producers and the risk of a Russian supply shortfall. The US imposed new sanctions on Russia, and talks to revive the Iran nuclear deal faced collapse.

- Date: 2022-03-11 · published 2022-03-11T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/5783-oil-settles-up-but-posts-biggest-weekly-decline-since-nov-reuters
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Expectations of more OPEC supply and the weekly drop reduce the energy premium that had lifted feed and biofuel input costs. Sanctions and Iran uncertainty keep the supply outlook volatile.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2026-05-29 | [Oil Sees Biggest Weekly Loss Since April on Iran Deal Talk](https://feedsoft.ai/events/12490-oil-sees-biggest-weekly-loss-since-april-on-iran-deal-talk.md) | +2.5% | -21.2% |
| BRENT | 2026-04-10 | [Oil ends lower ahead of U.S.-Iran ceasefire talks, posts steepest weekly loss since 2022 \| Reuters](https://feedsoft.ai/events/6898-oil-ends-lower-ahead-of-u-s-iran-ceasefire-talks-posts-steepest-weekly-loss.md) | +0.8% | -5.5% |
| BRENT | 2026-05-29 | [Brent oil price in May posts biggest monthly loss since 2020](https://feedsoft.ai/events/12487-brent-oil-price-in-may-posts-biggest-monthly-loss-since-2020.md) | +2.5% | -21.2% |
| BRENT | 2020-03-13 | [Crude posts biggest weekly losses since 2008, hit by coronavirus and Saudi price war](https://feedsoft.ai/events/4423-crude-posts-biggest-weekly-losses-since-2008-hit-by-coronavirus-and-saudi-price.md) | -18.6% | -21.4% |
| BRENT | 2026-07-30 | [Oil settles down on proposed Saudi-led maritime defence coalition \| Reuters](https://feedsoft.ai/events/18514-oil-settles-down-on-proposed-saudi-led-maritime-defence-coalition-reuters.md) | -9.2% | -3.9% |
| WTI | 2026-05-29 | [Oil Sees Biggest Weekly Loss Since April on Iran Deal Talk](https://feedsoft.ai/events/12490-oil-sees-biggest-weekly-loss-since-april-on-iran-deal-talk.md) | +4.6% | -23.5% |
| WTI | 2026-04-10 | [Oil ends lower ahead of U.S.-Iran ceasefire talks, posts steepest weekly loss since 2022 \| Reuters](https://feedsoft.ai/events/6898-oil-ends-lower-ahead-of-u-s-iran-ceasefire-talks-posts-steepest-weekly-loss.md) | -3.2% | -1.9% |
| WTI | 2026-05-29 | [Brent oil price in May posts biggest monthly loss since 2020](https://feedsoft.ai/events/12487-brent-oil-price-in-may-posts-biggest-monthly-loss-since-2020.md) | +4.6% | -23.5% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-crawls-higher-supply-doubts-heads-sharp-weekly-decline-2022-03-11/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.