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WTI climbed back above $86 in European trade but stayed below the 100-period SMA near $86.80. Iran reportedly closed the Strait of Hormuz, while US crude output hit a record and inventories rose.
Technical resistance and record US supply point to limited upside for crude, which keeps energy input costs for feed producers under modest pressure.
fxstreet.comHaresh MenghaniNov 12, 2026Not 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.
