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Oil headed for a second weekly loss after the IEA said global supply overtook demand for the first time since the Iran conflict began. Gulf exports recovered faster than demand, and the IEA raised its fourth-quarter supply estimates by 3.3 million bpd.
Expected surplus and recovering Gulf exports point to softer crude prices, lowering diesel and energy costs that feed into freight and fertilizer, which supports feed margins.
forbesmiddleeast.comMahir Haneef, Mohamed Rashed Alkhalifa, Said Khaled Aly Mohamed, Joyce AbañoNov 13, 2026| AFFECTS | 1d | 5d | 20d |
|---|---|---|---|
| Crude Oil (Brent)▼bearish | +0.1% | — | — |
| Crude Oil (WTI)▼bearish | +0.1% | — | — |
| ULSD / Diesel▼bearish | +0.2% | — | — |
After 338 past bearish macro events, Crude Oil (Brent) moved a median -2.2% over 5 sessions (36% higher; middle half -5.2% to +1.9%), 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.
