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Brent was down 37 cents to $92.39 and WTI down 37 cents to $86.16 mid-morning on Thursday, after both contracts fell more than $1 in early Asian trading. OPEC+ crude output rose in October on higher Saudi production despite disruptions in the Strait of Hormuz.
Two oil supertankers were disabled by mines in the strait, and Iran said it would not release enriched nuclear material.
Persistent Hormuz disruption keeps a risk premium in crude, which supports energy and biofuel input costs. Rising OPEC+ output offsets that support, so prices are likely to stay range-bound with volatility, keeping feed-related energy costs uncertain.
live.euronext.comNov 12, 2026After 63 past neutral geopolitics events, Crude Oil (Brent) moved a median -0.5% over 5 sessions (44% higher; middle half -4.4% to +2.6%), and -2.7% over 20.
After 60 past neutral geopolitics events, Crude Oil (WTI) moved a median -0.9% over 5 sessions (43% higher; middle half -4.7% to +2.3%), and -1.9% 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.
