# Iran's denial sent crude oil prices climbing

> Crude oil prices rose nearly 3% midday on November 11 after Iran denied it was negotiating with Washington. Saudi Arabia reported October output near pre-war levels. Brent and WTI had fallen about 21% and 17% since the start of November on bets the war was winding down. Natural gas also settled higher at $3.243 per MMBtu.

- Date: 2026-11-11 · published 2026-11-12T00:11:11.124Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/94377-iran-s-denial-sent-crude-oil-prices-climbing
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Iran's denial removes near-term hopes for a war end, raising crude and natural gas costs that flow into feed transport, drying and fertilizer. Higher energy prices support vegetable oil and biofuel-linked feed ingredient values.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- NATGAS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-08-31 | [Brent nears $90 after US-Iran strikes: Why is crude oil price rising?](https://feedsoft.ai/events/18055-brent-nears-90-after-us-iran-strikes-why-is-crude-oil-price-rising.md) | +9.6% | +4.0% |
| WTI | 2026-01-29 | [Crude Prices Surge as President Trump Ramps Up Pressure on Iran](https://feedsoft.ai/events/21230-crude-prices-surge-as-president-trump-ramps-up-pressure-on-iran.md) | +2.9% | +3.6% |
| WTI | 2025-04-11 | [Brent, WTI prices climb more $1 on possible Iran crude restriction \| Reuters](https://feedsoft.ai/events/25279-brent-wti-prices-climb-more-1-on-possible-iran-crude-restriction-reuters.md) | +7.5% | +2.5% |
| WTI | 2024-04-12 | [Crude oil prices today: WTI, Brent rise as Israel braces for Iran attack](https://feedsoft.ai/events/30930-crude-oil-prices-today-wti-brent-rise-as-israel-braces-for-iran-attack.md) | -2.7% | -6.1% |
| WTI | 2022-04-13 | [Oil prices settle up 4% despite big U.S. crude inventory build \| Reuters](https://feedsoft.ai/events/42017-oil-prices-settle-up-4-despite-big-u-s-crude-inventory-build-reuters.md) | +2.1% | +5.0% |
| BRENT | 2026-08-31 | [Brent nears $90 after US-Iran strikes: Why is crude oil price rising?](https://feedsoft.ai/events/18055-brent-nears-90-after-us-iran-strikes-why-is-crude-oil-price-rising.md) | +10.8% | +22.9% |
| BRENT | 2026-01-29 | [Crude Prices Surge as President Trump Ramps Up Pressure on Iran](https://feedsoft.ai/events/21230-crude-prices-surge-as-president-trump-ramps-up-pressure-on-iran.md) | +0.9% | +1.6% |
| BRENT | 2025-04-11 | [Brent, WTI prices climb more $1 on possible Iran crude restriction \| Reuters](https://feedsoft.ai/events/25279-brent-wti-prices-climb-more-1-on-possible-iran-crude-restriction-reuters.md) | +6.7% | -0.4% |

## Sources

- okenergytoday.com: https://okenergytoday.com/2026/11/irans-denial-sent-crude-oil-prices-climbing/

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