Global oil prices on Wednesday, November 11, resumed growth after two days of decline. Investors are assessing the prospects for an end to the US war with Iran, while taking into account the risks of new attacks on oil tankers and continued instability in the Middle East. This is reported by Bloomberg.

According to the Financial Times, on the morning of November 11, Brent crude futures traded near $92.54 per barrel, up about 1.15%. US West Texas Intermediate (WTI) rose 0.74% to $86.68 per barrel.

The moderate recovery came after a significant decline in prices at the beginning of the week. According to Bloomberg, over the previous two trading sessions, Brent lost about 7% of its value.

The main factor behind the decline was expectations of a possible end to the US-Iranian conflict. US President Donald Trump said he saw no need for new military strikes on Iran, although negotiations between the parties have not yet yielded significant results.

At the same time, risks to the oil market remain high. Attacks on commercial vessels continue in the region, and the US naval blockade of Iran has not yet been lifted.

Despite this, oil exports from the Persian Gulf countries are gradually recovering. According to Bloomberg, regional supply volumes are approaching levels observed before the start of the war.

The increase in available crude volumes is easing concerns about a global oil shortage and putting additional pressure on prices.

The oil market has experienced sharp fluctuations over the past months. In October, Brent reached a six-month high amid concerns about further escalation in the Middle East. However, in November, prices began to decline sharply against the backdrop of diplomatic signals from Washington.

Despite the recent decline, the international oil benchmark remains more than 50% more expensive than at the beginning of 2026.

Further price dynamics will largely depend on the results of US-Iran contacts, the safety of shipping in the Strait of Hormuz, and actual export volumes from the Middle East.

Based on materials from: Bloomberg, Financial Times