Oil Prices Head for 12% Weekly Loss Despite Fresh Tanker Attacks

OilPrice.com · Irina Slav · 2026-11-06 06:05 UTC

Oil prices are heading for a 12% weekly decline as hopes of an end to the Iran war grow following the U.S. midterm elections, although fresh tanker attacks continue to support prices.

Bloomberg reported Wednesday morning that…

A new DIA report says…

Crude oil prices were on course for a sharp weekly drop, with both Brent crude and WTI shedding 12% since Monday, following the results of the U.S. midterm elections, which gave rise to hopes that the war in the Middle East could be brought to a swift end.

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