# Oil Prices Suffer Steep Weekly Losses as Investors Weigh US-Iran War Risks After Midterms

> Brent and WTI posted steep weekly losses, falling more than 16% and nearly 13%, respectively, despite small gains on Friday. Investors weighed the possibility of renewed US-Iran fighting, diplomatic efforts, and reported tanker attacks near the Strait of Hormuz.

- Date: 2026-11-07 · published 2026-11-07T09:08:42.506Z
- Category: geopolitics · region Middle East · magnitude medium
- Page: https://feedsoft.ai/events/85776-oil-prices-suffer-steep-weekly-losses-as-investors-weigh-us-iran-war-risks
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Renewed conflict or disruption to Strait of Hormuz shipping could constrain Middle Eastern oil flows and lift crude prices, although diplomatic progress could ease supply concerns.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2026-05-21 | [US oil prices rise as investors doubt breakthrough in US-Iran peace talks \| Reuters](https://feedsoft.ai/events/19427-us-oil-prices-rise-as-investors-doubt-breakthrough-in-us-iran-peace-talks.md) | -11.6% | -25.6% |
| BRENT | 2018-09-27 | [Oil rises as investors fret over Iranian supply gaps](https://feedsoft.ai/events/63232-oil-rises-as-investors-fret-over-iranian-supply-gaps.md) | +5.2% | -5.9% |
| BRENT | 2026-05-17 | [Oil prices rise 3% to two-week high on Iran war supply concerns \| Reuters](https://feedsoft.ai/events/19430-oil-prices-rise-3-to-two-week-high-on-iran-war-supply-concerns-reuters.md) | -5.7% | -24.9% |
| BRENT | 2026-08-31 | [Brent nears $90 after US-Iran strikes: Why is crude oil price rising?](https://feedsoft.ai/events/18055-brent-nears-90-after-us-iran-strikes-why-is-crude-oil-price-rising.md) | +10.8% | +22.9% |
| BRENT | 2026-03-01 | [Oil and gas prices surge as Iran war disrupts Middle Eastern output \| Reuters](https://feedsoft.ai/events/5228-oil-and-gas-prices-surge-as-iran-war-disrupts-middle-eastern-output-reuters.md) | +31.0% | +62.6% |
| WTI | 2026-05-21 | [US oil prices rise as investors doubt breakthrough in US-Iran peace talks \| Reuters](https://feedsoft.ai/events/19427-us-oil-prices-rise-as-investors-doubt-breakthrough-in-us-iran-peace-talks.md) | -9.1% | -21.3% |
| WTI | 2018-09-27 | [Oil rises as investors fret over Iranian supply gaps](https://feedsoft.ai/events/63232-oil-rises-as-investors-fret-over-iranian-supply-gaps.md) | +6.1% | -7.4% |
| WTI | 2026-05-17 | [Oil prices rise 3% to two-week high on Iran war supply concerns \| Reuters](https://feedsoft.ai/events/19430-oil-prices-rise-3-to-two-week-high-on-iran-war-supply-concerns-reuters.md) | -8.1% | -22.7% |

## Sources

- benzinga.com: https://www.benzinga.com/markets/commodities/26/11/63017449/oil-prices-weekly-losses-us-iran-tensions

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