Loading…
Oil prices slipped on Friday and were on track for a second straight weekly decline as signs of a growing global supply surplus weighed on the market. Brent was at $95.77 a barrel and WTI at $88.57, with both benchmarks set to fall about 2% on the week after a 16% and 13% drop the week before.
An IEA report pointed to a rising global oil surplus, while easing fears of renewed hostilities with Iran reduced geopolitical risk.
A growing surplus and lower war risk point to softer crude prices, which feed into diesel, fertilizer and freight costs for feed producers. Lower energy costs can also ease biofuel economics and related feedstock demand.
channelnewsasia.comNov 13, 2026After 312 past bearish macro events, Crude Oil (Brent) moved a median -1.7% over 5 sessions (38% higher; middle half -5.4% to +2.3%), and -1.7% 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.
