# Freight, Mideast Supply Drive Atlantic Basin Crude Glut

> Brent crude fell to about $94.35 a barrel this week from $117.64 at the end of October, with Dated Brent and WTI also sliding. Analysts attribute the drop to competitive Mideast supply, rising Americas output and high freight rates, with heavy Canadian WCS trading more than $30 below WTI.

- Date: 2026-11-12 · published 2026-11-13T03:10:05.267Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/97046-freight-mideast-supply-drive-atlantic-basin-crude-glut
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Lower crude and diesel-linked energy costs ease feed transport and processing expenses over time, but wide regional discounts and freight costs keep logistics expensive for feed buyers.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2020-10-28 | [Oil Falls As Rise In US Crude Stocks Fans Over-Supply Fears](https://feedsoft.ai/events/50802-oil-falls-as-rise-in-us-crude-stocks-fans-over-supply-fears.md) | -3.8% | +16.8% |
| BRENT | 2025-09-29 | [Oil falls on concerns another OPEC+ supply boost will swell glut - CNBC TV18](https://feedsoft.ai/events/23038-oil-falls-on-concerns-another-opec-supply-boost-will-swell-glut-cnbc-tv18.md) | -7.5% | -6.8% |
| BRENT | 2020-03-17 | [Brent crude sinks below $30 a barrel as recession fears weigh](https://feedsoft.ai/events/7658-brent-crude-sinks-below-30-a-barrel-as-recession-fears-weigh.md) | -12.6% | -12.5% |
| BRENT | 2025-10-20 | [Brent oil structure, physical markets reflect fears of supply glut \| Reuters](https://feedsoft.ai/events/22585-brent-oil-structure-physical-markets-reflect-fears-of-supply-glut-reuters.md) | +7.5% | +4.3% |
| BRENT | 2019-09-27 | [Rupee rallies to nearly 2-month high as crude subsides \| Rupee rallies to nearly 2-month high as crude subsides](https://feedsoft.ai/events/57382-rupee-rallies-to-nearly-2-month-high-as-crude-subsides-rupee-rallies-to-nearly.md) | -7.3% | -1.2% |
| WTI | 2020-10-28 | [Oil Falls As Rise In US Crude Stocks Fans Over-Supply Fears](https://feedsoft.ai/events/50802-oil-falls-as-rise-in-us-crude-stocks-fans-over-supply-fears.md) | -4.8% | +13.6% |
| WTI | 2026-08-28 | [Dollar Strength and Increased Middle East Oil Flows Weigh on Crude Prices](https://feedsoft.ai/events/18056-dollar-strength-and-increased-middle-east-oil-flows-weigh-on-crude-prices.md) | +9.2% | +13.1% |
| WTI | 2025-09-29 | [Oil falls on concerns another OPEC+ supply boost will swell glut - CNBC TV18](https://feedsoft.ai/events/23038-oil-falls-on-concerns-another-opec-supply-boost-will-swell-glut-cnbc-tv18.md) | -7.3% | -6.4% |

## Sources

- energyintel.com: https://www.energyintel.com/000001a1-cbf9-d909-a7f9-effb3de90000

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