# Middle East situation and Ukraine-Russia talks shift oil prices

> Oil prices initially fell over $1 on November 12 as fears of wider Middle East escalation eased, then recovered to Brent near $93.21 and WTI near $86.80. Russian and Ukrainian negotiators agreed a large prisoner exchange at Abu Dhabi talks, though territorial differences remain, and Iran said it would not release enriched nuclear material.

- Date: 2026-11-12 · published 2026-11-12T18:09:20.013Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/95838-middle-east-situation-and-ukraine-russia-talks-shift-oil-prices
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Easing war risk and rising OPEC+ and US supply point toward softer crude, which lowers biofuel and fuel costs for feed producers, while Black Sea peace prospects could eventually ease grain export constraints.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2017-09-29 | [Arab News \| Middle East OPEC producers fret oil price rally may burn out](https://feedsoft.ai/events/69122-arab-news-middle-east-opec-producers-fret-oil-price-rally-may-burn-out.md) | -1.8% | +1.6% |
| BRENT | 2025-01-30 | [Oil Prices Hold Steady As Markets Await US Tariff Decisions, OPEC+ Meeting](https://feedsoft.ai/events/26669-oil-prices-hold-steady-as-markets-await-us-tariff-decisions-opec-meeting.md) | -2.8% | -4.9% |
| BRENT | 2020-09-30 | [Arab News \| Oil prices ‘likely to remain static despite output cuts’](https://feedsoft.ai/events/51279-arab-news-oil-prices-likely-to-remain-static-despite-output-cuts.md) | +3.1% | -0.6% |
| BRENT | 2020-12-03 | [Why the OPEC+ agreement to boost production in 2021 didn’t tank oil prices - MarketWatch](https://feedsoft.ai/events/49827-why-the-opec-agreement-to-boost-production-in-2021-didn-t-tank-oil-prices.md) | +1.7% | +7.3% |
| BRENT | 2022-10-17 | [Oil steady as recession woes counter positive Chinese signals](https://feedsoft.ai/events/39285-oil-steady-as-recession-woes-counter-positive-chinese-signals.md) | +0.8% | +4.6% |
| WTI | 2023-06-20 | [TODAY IN ENERGY: U.S. diesel prices have fallen below prices from before Russia’s invasion of Ukraine](https://feedsoft.ai/events/35679-today-in-energy-u-s-diesel-prices-have-fallen-below-prices-from-before-russia-s.md) | -3.6% | +5.5% |
| WTI | 2017-09-29 | [Arab News \| Middle East OPEC producers fret oil price rally may burn out](https://feedsoft.ai/events/69122-arab-news-middle-east-opec-producers-fret-oil-price-rally-may-burn-out.md) | -1.6% | +1.7% |
| WTI | 2026-10-26 | [Rupee falls for third straight session, ends at 95.19 as oil prices and importer demand weigh](https://feedsoft.ai/events/17312-rupee-falls-for-third-straight-session-ends-at-95-19-as-oil-prices-and-importer.md) | -3.2% | — |

## Sources

- english.nv.ua: https://english.nv.ua/nation/middle-east-situation-and-the-negotiations-between-ukraine-and-russia-affect-oil-prices-50658544.html

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