# Brent Loses 13.32% in Week to Nov 6 as War Premium Fades

> January Brent settled at $98.32 per barrel on November 6, down 13.32% for the week, while December WTI settled at $90.83, down 12.76%. Hopes for an end to the Iran war after the US midterm results reduced the market’s war-risk premium; the article also notes that Gulf crude exports fell in October from September as Saudi Arabia and the UAE restored shipments.

- Date: 2026-11-06 · published 2026-11-07T15:07:41.932Z
- Category: geopolitics · region Middle East · magnitude medium
- Page: https://feedsoft.ai/events/86123-brent-loses-13-32-in-week-to-nov-6-as-war-premium-fades
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Lower perceived risk of conflict reduces the premium embedded in crude prices, while restored shipments from some Gulf producers add supply; both factors weigh on oil. Cheaper crude can ease pressure on fuel and energy-related feed costs.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2026-04-01 | [Grain, Oilseed Prices Fall as Traders Look for End to Iran War - Bloomberg](https://feedsoft.ai/events/19762-grain-oilseed-prices-fall-as-traders-look-for-end-to-iran-war-bloomberg.md) | -12.2% | -1.1% |
| BRENT | 2020-03-18 | [US crude falls 24%, Brent down 13% as analysts warn more to come \| Coronavirus pandemic \| Al Jazeera](https://feedsoft.ai/events/7663-us-crude-falls-24-brent-down-13-as-analysts-warn-more-to-come-coronavirus.md) | -9.0% | -17.4% |
| BRENT | 2026-05-06 | [Brent Crude Price: Oil and gas plunge after report US and Iran near deal to end war](https://feedsoft.ai/events/9582-brent-crude-price-oil-and-gas-plunge-after-report-us-and-iran-near-deal-to-end.md) | -2.3% | -11.1% |
| BRENT | 2026-02-02 | [Oil Closes Sharply Lower as Iran Risk Fades \| Rigzone](https://feedsoft.ai/events/8798-oil-closes-sharply-lower-as-iran-risk-fades-rigzone.md) | -3.1% | +0.6% |
| BRENT | 2024-04-18 | [Crude oil prices today: WTI falls below $83 as war fear eases](https://feedsoft.ai/events/30929-crude-oil-prices-today-wti-falls-below-83-as-war-fear-eases.md) | +0.1% | -8.0% |
| WTI | 2026-04-01 | [Grain, Oilseed Prices Fall as Traders Look for End to Iran War - Bloomberg](https://feedsoft.ai/events/19762-grain-oilseed-prices-fall-as-traders-look-for-end-to-iran-war-bloomberg.md) | -6.6% | +6.7% |
| WTI | 2020-03-18 | [US crude falls 24%, Brent down 13% as analysts warn more to come \| Coronavirus pandemic \| Al Jazeera](https://feedsoft.ai/events/7663-us-crude-falls-24-brent-down-13-as-analysts-warn-more-to-come-coronavirus.md) | -18.5% | -26.1% |
| WTI | 2026-05-06 | [Brent Crude Price: Oil and gas plunge after report US and Iran near deal to end war](https://feedsoft.ai/events/9582-brent-crude-price-oil-and-gas-plunge-after-report-us-and-iran-near-deal-to-end.md) | +0.0% | -5.8% |

## Sources

- bullquill.com: https://bullquill.com/oil-weekly-brief-2026-11-06/

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