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WTI edged lower during the Asian session on Friday and failed to extend the previous day's gain. Hopes for a Russia-Ukraine ceasefire and higher OPEC+ output, including from Saudi Arabia and Iraq, capped prices, while Middle East risk and the Strait of Hormuz standoff provided some support.
Technical indicators favored sellers below the 23.6% Fibonacci level and the 200-hour SMA.
Technical bearish signals in WTI alongside rising OPEC+ output point to softer crude prices, which would ease energy costs for feed supply chains.
fxstreet.comHaresh MenghaniNov 13, 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.
