Loading…
Brent crude rose to around $96 a barrel on Thursday, extending gains for a second session after hitting a ten-week low of $91.5 on November 10. Prices climbed after President Trump said the US no longer needs a deal with Iran, while Iran signalled it would not remove enriched nuclear material from the country.
Oil is an input to diesel, freight and fertilizer costs for feed production, so renewed Middle East supply risk supports energy and logistics costs. Recovering Gulf output limits the upside.
tradingeconomics.comNov 12, 2026After 323 past bullish macro events, Crude Oil (Brent) moved a median +0.7% over 5 sessions (58% higher; middle half -2.9% to +3.7%), and +1.3% 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.
