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WTI settled at $88.74 and Brent at $95.82 after a volatile session driven by Hormuz tanker strikes and Trump's comments that a deal with Iran is no longer needed. Weekly EIA data showed unexpected builds in crude, distillates and gasoline, with US crude output rising to 14.013 million bpd.
The geopolitical premium is being partly offset by bearish US inventory builds, so crude may stay range-bound near current levels. Diesel and energy costs remain elevated for feed mill and freight operations.
newsquawk.comNov 12, 2026Not enough comparable past events yet for a historical read.
Not 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.
