News report 🏭 Commodities 🌍 GLOBAL

Brent and WTI Crude Prices Head for Second Consecutive Weekly Loss

Brent and WTI crude prices are set for a second weekly loss, trading at $95.87 and $88.49 per barrel respectively, as rising Saudi output and remote peace prospects weigh on the market.

📅 November 13, 2026 🕐 1 min read

2 assets impacted (Commodities). Net bias: 0 Bullish, 2 Bearish, 0 Neutral. Strongest signal: UKOIL ↓ 5/10 (60% confidence).

📊 Affected Assets (2)

UKOIL

Bearish 🤖 60%

📅 Short-term 🌍 GLOBAL · Explicit

Brent is on course for a second consecutive weekly loss, trading at $95.87 per barrel, well below its mid-October peaks. Peace prospects with Iran, despite Trump rejecting a deal, and continued Saudi output recovery near pre-war levels weigh on prices. Ongoing tanker attacks in Hormuz and Houthi strikes on Saudi facilities limit the downside.

Catalysts

▼ Second weekly loss underway for Brent at $95.87 per barrel
▼ Trump statement 'We don't need a deal with Iran' leaving peace prospects remote

Risk Factors

▲ Iranian attacks on four tankers in the Strait of Hormuz
▲ Houthi attacks on Saudi energy sites including the East-West pipeline pumping station and Yanbu facility

USOIL

Bearish 🤖 60%

📅 Short-term 🌍 US · Explicit

WTI trades at $88.49 per barrel, a sharp decline from mid-October peaks, and crude prices are set to book a second week of losses. API data showed a sharp build in US crude and distillate inventories, adding bearish pressure. Continued Iranian tanker attacks in Hormuz keep a supply-risk floor under prices.

Catalysts

▼ Second weekly loss underway for WTI at $88.49 per barrel
▼ API showed a sharp build in US crude oil and distillate inventories

Risk Factors

▲ Iranian attacks on tankers in the Strait of Hormuz continue
▲ Chances of a peace deal remain remote after Trump said the US doesn't need a deal with Iran

🧭 Full analysis of these assets

🎯 Key Takeaways

Brent crude is trading at $95.87 per barrel, while WTI crude sits at $88.49 per barrel.
Saudi Arabia reported crude production rebounded to 10.56 million barrels daily last month, reaching pre-war levels.
President Donald Trump stated the U.S. does not need a deal with Iran, dampening hopes for a near-term peace agreement.
API data indicated a sharp build in U.S. crude oil and distillate inventories, adding downward pressure on prices.

📝 Executive Summary

Crude oil prices are on track for a second weekly decline as market optimism regarding peace prospects and recovering Saudi production offsets supply concerns. Brent is trading at $95.87 per barrel and WTI at $88.49 per barrel, both significantly lower than their mid-October peaks despite ongoing regional tensions.

❓ FAQ

UKOIL · Why is oil falling despite attacks in the Middle East?

Brent is heading for its second weekly loss as optimism about a possible Iran peace deal and Saudi output recovering to near pre-war levels offset supply risk fears from tanker attacks in Hormuz and Houthi strikes on Saudi facilities.

UKOIL · Where does Brent stand now?

Brent was trading at $95.87 per barrel, a sharp decline from the peaks hit in mid-October but still significantly higher than February levels before the war started.

USOIL · Is WTI in a downtrend?

Yes, crude prices are on course for a second consecutive week of losses, with WTI at $88.49 per barrel, down sharply from mid-October peaks though still above pre-war February levels.

USOIL · What could reverse the price drop?

An escalation such as continued Iranian tanker attacks in the Strait of Hormuz or Houthi strikes on Saudi energy infrastructure could push prices back up if peace hopes fade.

📰 Related Articles

🏷️ Tags

📰 Source

🔗 View Original Article