# The oil market is brimming with crude despite tanker attacks

> Saudi Arabia pumped 10.5 million barrels a day in October, a level reached only once since 2022, while Iraq and Kuwait also reported large increases and the UAE is free of OPEC quotas. Futures fell nearly 25% in November so far despite ongoing tanker attacks near the Strait of Hormuz.

- Date: 2026-11-14 · published 2026-11-14T12:08:59.238Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/99332-the-oil-market-is-brimming-with-crude-despite-tanker-attacks
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Ample crude supply and falling physical cargo prices reduce energy costs for feed producers, easing pressure on fuel, fertilizer and freight costs that feed into grain and meal prices.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼
- DIESEL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2020-03-29 | [Oil Crashes to 18-Year Low With Broken Market Drowning in Crude - Bloomberg](https://feedsoft.ai/events/5324-oil-crashes-to-18-year-low-with-broken-market-drowning-in-crude-bloomberg.md) | +21.9% | -26.3% |
| BRENT | 2020-07-30 | [Oil Traders Await Cheaper Saudi Crude With Demand Ebbing](https://feedsoft.ai/events/52261-oil-traders-await-cheaper-saudi-crude-with-demand-ebbing.md) | +3.2% | +4.8% |
| BRENT | 2026-02-02 | [Metals, crude oil dive in broad commodities market tumble \| Reuters](https://feedsoft.ai/events/8795-metals-crude-oil-dive-in-broad-commodities-market-tumble-reuters.md) | -3.1% | +0.6% |
| BRENT | 2018-12-24 | [Plunging oil prices show the market is worried about 2019 recession](https://feedsoft.ai/events/8701-plunging-oil-prices-show-the-market-is-worried-about-2019-recession.md) | -1.3% | +15.8% |
| BRENT | 2020-02-24 | [Oil slides into bear market territory, posting worst day in more than a month](https://feedsoft.ai/events/7115-oil-slides-into-bear-market-territory-posting-worst-day-in-more-than-a-month.md) | -13.0% | -55.2% |
| WTI | 2020-03-29 | [Oil Crashes to 18-Year Low With Broken Market Drowning in Crude - Bloomberg](https://feedsoft.ai/events/5324-oil-crashes-to-18-year-low-with-broken-market-drowning-in-crude-bloomberg.md) | +64.1% | -28.3% |
| WTI | 2020-03-10 | [Fear in the Market Drives Dow and Crude Oil Lower, Drags Ag Markets Along \| Hoosier Ag Today](https://feedsoft.ai/events/11271-fear-in-the-market-drives-dow-and-crude-oil-lower-drags-ag-markets-along.md) | -7.1% | -15.8% |
| WTI | 2020-07-30 | [Oil Traders Await Cheaper Saudi Crude With Demand Ebbing](https://feedsoft.ai/events/52261-oil-traders-await-cheaper-saudi-crude-with-demand-ebbing.md) | +2.6% | +5.1% |

## Sources

- cnbctv18.com: https://www.cnbctv18.com/market/the-oil-market-is-brimming-with-crude-despite-tanker-attacks-20034080.htm

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