# Oil Prices Sink as Iran and Ukraine Peace Optimism Builds

> Brent traded at $91.32 and WTI at $85.32 after both shed over $1 in Asian trade. Peace hopes followed a round of Russia-Ukraine negotiations that produced only a prisoner exchange, and Iran said it would not give up its enriched uranium. October OPEC output and a US crude inventory build added pressure, while tanker attacks limited the losses.

- Date: 2026-11-12 · published 2026-11-12T09:10:09.448Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/95274-oil-prices-sink-as-iran-and-ukraine-peace-optimism-builds
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Peace optimism and rising OPEC supply are pushing crude lower, which eases energy costs across agriculture and feed logistics. Continued tanker attacks in the Strait of Hormuz could limit how far prices fall.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Sources

- oilprice.com: https://oilprice.com/Latest-Energy-News/World-News/Oil-Prices-Sink-as-Iran-and-Ukraine-Peace-Optimism-Builds.html

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