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WTI and Brent extended recent losses as forward curves flattened but remained in backwardation. The market was responding to signs of rebuilding inventories and higher OPEC and non-OPEC supply, while diesel crack spreads remained historically elevated.
Rising crude supply and a shift toward inventory builds point to softer crude prices; tight middle-distillate conditions may support diesel and limit pressure on refinery margins.
commodity-board.comCMB NewsNov 11, 2026After 80 past bearish trade events, Crude Oil (WTI) moved a median -2.2% over 5 sessions (30% higher; middle half -6.9% to +0.8%), and -1.5% over 20.
After 56 past bearish trade events, Crude Oil (Brent) moved a median -5.6% over 5 sessions (20% higher; middle half -9.0% to -1.7%), and -4.5% over 20.
After 26 past bullish trade events, ULSD / Diesel moved a median -1.9% over 5 sessions (31% higher; middle half -5.6% to +1.6%), and -4.8% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
