# Oil prices set for second straight weekly decline on growing signs of supply surplus

> 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.

- Date: 2026-11-13 · published 2026-11-13T21:09:53.972Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/98452-oil-prices-set-for-second-straight-weekly-decline-on-growing-signs-of-supply
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

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.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2022-11-18 | [Oil slides 2%, posts second weekly decline as supply fears recede \| Reuters](https://feedsoft.ai/events/38868-oil-slides-2-posts-second-weekly-decline-as-supply-fears-recede-reuters.md) | -5.4% | -9.5% |
| BRENT | 2025-09-30 | [Oil Prices Extend Losses On Growing Oversupply Fears](https://feedsoft.ai/events/23040-oil-prices-extend-losses-on-growing-oversupply-fears.md) | -3.2% | -4.3% |
| BRENT | 2025-03-05 | [Declining crude oil and vegetable oil prices lower prices for sunflower seeds and oil in Ukraine](https://feedsoft.ai/events/11140-declining-crude-oil-and-vegetable-oil-prices-lower-prices-for-sunflower-seeds.md) | -1.6% | +6.2% |
| BRENT | 2024-10-16 | [Oil prices hold at 2-week low on lower oil demand growth forecasts](https://feedsoft.ai/events/28030-oil-prices-hold-at-2-week-low-on-lower-oil-demand-growth-forecasts.md) | +2.5% | -2.4% |
| BRENT | 2020-03-13 | [Crude oil sell-offs see prices for palm oil decline \| Analysis & Features \| The Grocer](https://feedsoft.ai/events/54237-crude-oil-sell-offs-see-prices-for-palm-oil-decline-analysis-and-features-the.md) | -18.6% | -21.4% |
| WTI | 2022-11-18 | [Oil slides 2%, posts second weekly decline as supply fears recede \| Reuters](https://feedsoft.ai/events/38868-oil-slides-2-posts-second-weekly-decline-as-supply-fears-recede-reuters.md) | -6.5% | -9.1% |
| WTI | 2025-09-30 | [Oil Prices Extend Losses On Growing Oversupply Fears](https://feedsoft.ai/events/23040-oil-prices-extend-losses-on-growing-oversupply-fears.md) | -2.8% | -3.3% |
| WTI | 2025-03-05 | [Declining crude oil and vegetable oil prices lower prices for sunflower seeds and oil in Ukraine](https://feedsoft.ai/events/11140-declining-crude-oil-and-vegetable-oil-prices-lower-prices-for-sunflower-seeds.md) | -2.9% | +4.5% |

## Sources

- channelnewsasia.com: https://www.channelnewsasia.com/business/oil-prices-set-second-straight-weekly-decline-growing-signs-supply-surplus-6548391

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