Brent falls as peace hopes grow and Saudi output jumps: Nov 12, 2026
Brent has seen choppy trade around Iran headlines, rising after Iran denied talks with Washington amid Iran tensions and uncertainty over Ukraine talks, then retreating as peace hopes grew and Trump held off Iran strikes. The pullback extended to the lowest level since August as the war premium faded and Saudi crude output was reported up 26% to near pre-war production, with 88.21 coming into focus.
Updated
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Headlines (9)
Carried over from earlier days
- Hong Kong oil majors fall over 2% as Brent plunges 5.85% to $92.57 on easing Iran tensionsgelonghui.com
- Brent Breaks Key Support as Trump Holds Off Iran Strikes, 88.21 Comes Into FocusActionForex
- Energy prices deepen losses while precious metals edge loweraa.com.tr
- Oil Falls to Lowest Level Since AugustOilPrice.com
- Oil Prices Retreat as Peace Hopes Growrigzone.com
- Brent crude futures rise $3 per barrel on Iran tensions and Ukraine talks uncertaintyflash.jin10.com
- Saudi Crude Output Jumps 26% as Riyadh Reports Near Pre-War ProductionOilPrice.com
- Brent Jumps Nearly 3% as Iran Denies Any Talks With WashingtonOilPrice.com
- Midterms strip out the war premium, but the next two months make shorts a risky betHellenic Shipping News
Scheduled events
As of
| Event | Forecast | Currency |
|---|---|---|
| Thursday, November 12 | ||
| New Loans | 80B | CNY |
| M2 Money Supply y/y | 7.2% | CNY |
| Building Permits m/m | -4.0% | CAD |
| FOMC Member Hammack Speaks | USD | |
| Unemployment Claims | 194K | USD |
| Existing Home Sales | 3.89M | USD |
| FOMC Member Barr Speaks | USD | |
| Mortgage Delinquencies | USD | |