# Oil rebounds but remains on track for 12% weekly loss

> Brent and WTI rose for a second consecutive session on Friday but remained down 11.8% for the week. Earlier declines reflected hopes that the US election outcome could encourage de-escalation of the Iran war, while fresh tanker attacks in the Gulf and Strait of Hormuz renewed concerns about crude supply security.

- Date: 2026-11-06 · published 2026-11-06T21:09:54.708Z
- Category: geopolitics · region Middle East · magnitude medium
- Page: https://feedsoft.ai/events/84879-oil-rebounds-but-remains-on-track-for-12-weekly-loss
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

The prospect of reduced conflict risk and lower disruption fears has weighed on oil, while attacks on tankers support prices by raising the risk of interrupted exports. Lower crude prices can ease energy-related costs for feed production and transport, although renewed shipping risks may limit the decline.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2026-10-29 | [WTI Oil eases from highs on Iran peace hopes but remains above $100.00](https://feedsoft.ai/events/1442-wti-oil-eases-from-highs-on-iran-peace-hopes-but-remains-above-100-00.md) | -2.3% | — |
| WTI | 2026-04-10 | [Oil Eyes Large Weekly Loss Amid Fragile Iran Peace Hopes](https://feedsoft.ai/events/10139-oil-eyes-large-weekly-loss-amid-fragile-iran-peace-hopes.md) | -3.2% | -1.9% |
| 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 | 2022-03-11 | [Oil settles up but posts biggest weekly decline since Nov \| Reuters](https://feedsoft.ai/events/5783-oil-settles-up-but-posts-biggest-weekly-decline-since-nov-reuters.md) | -2.8% | -9.4% |
| 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 Eyes Large Weekly Loss Amid Fragile Iran Peace Hopes](https://feedsoft.ai/events/10139-oil-eyes-large-weekly-loss-amid-fragile-iran-peace-hopes.md) | +0.8% | -5.5% |
| 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% |

## Sources

- investing.com.au: http://investing.com.au/news/oil-rebounds-but-remains-on-track-for-12-weekly-loss/
- investing.com.au: https://investing.com.au/news/oil-rebounds-but-remains-on-track-for-12-weekly-loss/

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