# Brent settles below $100 after 16% weekly drop, biggest since 2020

> Brent traded at $96.91 per barrel and WTI at $89.85 on November 9 after President Donald Trump said he would not order further strikes on Iran while peace talks continue. Brent fell 16% the previous week, while renewed Middle East supply, higher production elsewhere and weak demand have pushed the oil market toward surplus.

- Date: 2026-11-09 · published 2026-11-09T09:09:02.653Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/89129-brent-settles-below-100-after-16-weekly-drop-biggest-since-2020
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Greater supply and soft demand point to a bearish crude balance, while easing geopolitical tensions could further reduce prices. Lower oil prices may ease Ukraine’s fuel and inflation costs and reduce Russia’s oil revenue.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2026-05-29 | [Oil Sees Biggest Weekly Loss Since April on Iran Deal Talk](https://feedsoft.ai/events/12490-oil-sees-biggest-weekly-loss-since-april-on-iran-deal-talk.md) | +2.5% | -21.2% |
| 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 | 2026-04-07 | [Oil tumbles below $100 after Trump announces two-week ceasefire \| Reuters](https://feedsoft.ai/events/6897-oil-tumbles-below-100-after-trump-announces-two-week-ceasefire-reuters.md) | -6.5% | -1.7% |
| 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% |
| WTI | 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) | -2.8% | -9.4% |
| WTI | 2026-05-29 | [Oil Sees Biggest Weekly Loss Since April on Iran Deal Talk](https://feedsoft.ai/events/12490-oil-sees-biggest-weekly-loss-since-april-on-iran-deal-talk.md) | +4.6% | -23.5% |
| 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% |

## Sources

- biz.liga.net: https://biz.liga.net/en/energy/news/brent-settles-below-100-after-16-weekly-drop-biggest-since-2020

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