Brent Crude Edges Up Slightly

2026-11-11 09:59 By Agna Gabriel 1 min. read

Brent crude rose around 1% to near $93 a barrel on Wednesday, recovering from a 10-week low as tensions between the US and Iran remained elevated.

Prices gained after Iran’s security chief said Tehran would not allow any enriched nuclear material to leave the country, underscoring a major obstacle to negotiations, as Washington insists nuclear issues must be addressed in initial talks to end the conflict.

Despite US officials playing down the need for further military strikes, an Iranian security official denied that any negotiations were underway.

Meanwhile, shipping risks in the Strait of Hormuz continued to support prices, with 37 vessels attacked in October, the highest monthly total since the war began.

A tanker was also struck off Oman, while Iran’s Revolutionary Guards reported that two other tankers caught fire after hitting naval mines.

On the supply side, the American Petroleum Institute reported a 9-million-barrel increase in US crude inventories last week.



News Stream
Brent Crude Edges Up Slightly
Brent crude rose around 1% to near $93 a barrel on Wednesday, recovering from a 10-week low as tensions between the US and Iran remained elevated. Prices gained after Iran’s security chief said Tehran would not allow any enriched nuclear material to leave the country, underscoring a major obstacle to negotiations, as Washington insists nuclear issues must be addressed in initial talks to end the conflict. Despite US officials playing down the need for further military strikes, an Iranian security official denied that any negotiations were underway. Meanwhile, shipping risks in the Strait of Hormuz continued to support prices, with 37 vessels attacked in October, the highest monthly total since the war began. A tanker was also struck off Oman, while Iran’s Revolutionary Guards reported that two other tankers caught fire after hitting naval mines. On the supply side, the American Petroleum Institute reported a 9-million-barrel increase in US crude inventories last week.
2026-11-11
Brent Hovers Near 10-Week Lows
Brent crude stabilized around $92 per barrel on Wednesday, but stayed close to ten-week lows on signs of easing tensions between the US and Iran. President Donald Trump suggested that additional military strikes against Iran may no longer be necessary, fueling optimism for a possible diplomatic settlement. Meanwhile, Congressional Democrats are considering leveraging the upcoming government funding deadline to push the Trump administration toward ending the conflict. At the same time, Middle Eastern oil shipments have nearly returned to prewar levels despite ongoing attacks on vessels in the Strait of Hormuz. However, uncertainty persists as Iran demands relief from US sanctions and the naval blockade before agreeing to peace talks. The international oil benchmark has fallen more than 20% from its late-October peak, reversing much of its recent gains as hopes for de-escalation strengthened and regional oil exports continued to recover.
2026-11-10
Brent Crude Falls for 2nd Session
Brent crude fell below $92 a barrel on Tuesday, its lowest level since late August, extending a 5.9% decline on Monday, as investors increasingly anticipated a diplomatic resolution to the Middle East conflict. US President Donald Trump signaled that further strikes on Iran may not be necessary. Trump described Iran’s military capabilities as effectively defeated, while maintaining that the US remained prepared to act if needed. Meanwhile, congressional Democrats are considering using the upcoming government funding deadline to pressure the administration towards ending the conflict. Oil prices reversed sharply in November, as de-escalation hopes grew and exports from the region continued to recover. Despite ongoing attacks on shipping, traffic through the Strait of Hormuz increased, bringing Middle Eastern oil shipments close to pre-war levels. Saudi shipping firm Bahri also said it was sending tankers through the waterway in coordination with the US military.
2026-11-10