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Brent slipped about 1.5% to $91.22 and WTI fell to $85.26, heading toward a two-month low. Saudi Arabia reported a 26% jump in October output to OPEC and Iraq posted a new wartime production high.
US-Iran talks remain stalled.
Rising Gulf supply is pushing crude lower, reducing energy and freight costs for feed makers. Analysts warn the sell-off could reverse quickly if Hormuz flows do not normalize.
gulfnews.comStacy PereiraNov 12, 2026Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
