# Brent Crude Rebounds to $98.50 After Touching $96 a Barrel

> Brent crude futures touched $96 per barrel before rebounding to $98.50 as efforts to end the U.S.-Iran war advanced late in the week. Hopes for peace and reopening the Strait of Hormuz reduced the conflict premium, after the war had depleted global oil inventories by nearly 700 million barrels.

- Date: 2026-11-08 · published 2026-11-08T12:08:09.181Z
- Category: geopolitics · region US-Iran · magnitude low
- Page: https://feedsoft.ai/events/87398-brent-crude-rebounds-to-98-50-after-touching-96-a-barrel
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A possible end to the conflict and reopening of Hormuz could restore supply and weigh on Brent prices. However, depleted inventories may take considerable time to rebuild, providing support and limiting the downside.

## Read by commodity

- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2026-04-08 | [Brent crude oil prices drop amid Iran war ceasefire \| Trucking Dive](https://feedsoft.ai/events/10141-brent-crude-oil-prices-drop-amid-iran-war-ceasefire-trucking-dive.md) | -13.7% | -8.7% |
| BRENT | 2026-07-01 | [U.S. crude oil falls below $70, resuming losses after attack on cargo ship near Oman](https://feedsoft.ai/events/18993-u-s-crude-oil-falls-below-70-resuming-losses-after-attack-on-cargo-ship-near.md) | +1.8% | +18.3% |
| BRENT | 2020-03-30 | [US, Russian oil officials to meet as Brent crude hits 18-year low \| OPEC \| Al Jazeera](https://feedsoft.ai/events/54288-us-russian-oil-officials-to-meet-as-brent-crude-hits-18-year-low-opec-al-jazeera.md) | +21.9% | -26.3% |
| BRENT | 2018-07-11 | [Brent crude suffers biggest price drop in two years](https://feedsoft.ai/events/10093-brent-crude-suffers-biggest-price-drop-in-two-years.md) | -8.7% | -6.2% |

## Sources

- tokenpost.com: https://www.tokenpost.com/news/investing/51551

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