# Brent below $98; Oil remains steady after steepest weekly drop since 2020

> Brent traded below $98 a barrel and WTI near $90 on Monday, extending losses after oil’s steepest weekly decline since April 2020. Traders weighed hopes for a diplomatic resolution to the US-Iran conflict against fresh attacks in the region, conflicting US statements and Ukrainian strikes on Russian oil infrastructure.

- Date: 2026-11-09 · published 2026-11-09T03:08:18.368Z
- Category: geopolitics · region Global · magnitude low
- Page: https://feedsoft.ai/events/88511-brent-below-98-oil-remains-steady-after-steepest-weekly-drop-since-2020
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

De-escalation expectations and the previous sharp price retreat are bearish for crude, while attacks and risks to oil infrastructure could limit further losses by threatening supply.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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% |
| BRENT | 2026-05-29 | [Brent oil price in May posts biggest monthly loss since 2020](https://feedsoft.ai/events/12487-brent-oil-price-in-may-posts-biggest-monthly-loss-since-2020.md) | +2.5% | -21.2% |
| BRENT | 2026-05-29 | [Oil prices log steepest weekly loss since April on potential US-Iran peace deal \| The National](https://feedsoft.ai/events/12723-oil-prices-log-steepest-weekly-loss-since-april-on-potential-us-iran-peace-deal.md) | +2.5% | -21.2% |
| BRENT | 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) | -1.7% | -10.5% |
| BRENT | 2020-01-10 | [Oil posts worst week since July after US-Iran tensions ease](https://feedsoft.ai/events/9659-oil-posts-worst-week-since-july-after-us-iran-tensions-ease.md) | -2.0% | -16.5% |
| 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 | 2026-05-29 | [Brent oil price in May posts biggest monthly loss since 2020](https://feedsoft.ai/events/12487-brent-oil-price-in-may-posts-biggest-monthly-loss-since-2020.md) | +4.6% | -23.5% |
| WTI | 2026-05-29 | [Oil prices log steepest weekly loss since April on potential US-Iran peace deal \| The National](https://feedsoft.ai/events/12723-oil-prices-log-steepest-weekly-loss-since-april-on-potential-us-iran-peace-deal.md) | +4.6% | -23.5% |

## Sources

- cnbctv18.com: https://www.cnbctv18.com/market/commodities/crude-oil-prices-brent-below-98-us-iran-conflict-saudi-aramco-houthi-attacks-russia-refineries-west-asia-20029949.htm

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