# Oil Prices Rebound.. Brent Suffers 12.5% Weekly Loss

> Oil prices recovered late Friday, with Brent near $98 and WTI around $91, even as both benchmarks recorded large weekly losses. Traders monitored renewed US-Iran tensions and attacks on tankers in the Strait of Hormuz, alongside the possibility of a diplomatic breakthrough.

- Date: 2026-11-07 · published 2026-11-08T00:08:29.165Z
- Category: geopolitics · region Middle East · magnitude medium
- Page: https://feedsoft.ai/events/86616-oil-prices-rebound-brent-suffers-12-5-weekly-loss
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The attacks heighten the risk of disrupted oil shipments and support prices, while diplomacy could reduce the risk premium. Crude volatility can feed through to fuel and freight costs for feed buyers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2017-07-31 | [Oil prices rebound ahead of the session's close](https://feedsoft.ai/events/70133-oil-prices-rebound-ahead-of-the-session-s-close.md) | +0.4% | -0.2% |
| BRENT | 2023-12-27 | [Diesel Prices Rebound After 8-Week Decline on Supply Concerns](https://feedsoft.ai/events/32880-diesel-prices-rebound-after-8-week-decline-on-supply-concerns.md) | -3.6% | +0.5% |
| 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 | 2026-10-11 | [Oil Prices Jump 2% on Saudi Attacks as OPEC Sees Demand Rebound](https://feedsoft.ai/events/17243-oil-prices-jump-2-on-saudi-attacks-as-opec-sees-demand-rebound.md) | +1.0% | -2.7% |
| BRENT | 2018-06-25 | [Take a look at the WTI and Brent crude oil prices after OPEC \| IG South Africa](https://feedsoft.ai/events/64676-take-a-look-at-the-wti-and-brent-crude-oil-prices-after-opec-ig-south-africa.md) | +5.1% | -2.8% |
| WTI | 2017-07-31 | [Oil prices rebound ahead of the session's close](https://feedsoft.ai/events/70133-oil-prices-rebound-ahead-of-the-session-s-close.md) | -0.3% | -4.0% |
| 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% |
| WTI | 2026-10-11 | [Oil Prices Jump 2% on Saudi Attacks as OPEC Sees Demand Rebound](https://feedsoft.ai/events/17243-oil-prices-jump-2-on-saudi-attacks-as-opec-sees-demand-rebound.md) | +7.5% | +4.9% |

## Sources

- see.news: https://see.news/oil-prices-rebound-brent-suffers-125-weekly-loss

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