Key facts
- December WTI futures traded from a $90.83 open down to $83.88, then recovered to $88.20.
- At $88.20, the contract was down $2.63, or 2.90%, for the week.
- Trump said he was unlikely to order fresh strikes on Iran while efforts to end the conflict progressed.
- Trump later said he planned to hold off on new strikes after appeals from countries in the region, including Qatar.
- Higher Saudi production and a large build in US inventories added selling pressure, the report said.
- Yemen's Iran-aligned Houthis claimed attacks on Thursday, the report said.
December WTI crude oil futures were lower for the week but recovered much of an early loss, trading at $88.20 after opening at $90.83 and falling to $83.88, according to the report published November 13, 2026. At that price the contract was down $2.63, or 2.90%, for the week.
Traders removed war premium from crude after President Trump played down the possibility of new US strikes on Iran. Trump said he was unlikely to order fresh attacks while efforts to end the conflict were making progress, and later said he planned to hold off on new strikes for the time being after appeals from countries in the region, including Qatar. Higher Saudi production and a large build in US inventories gave sellers more to work with.
The report said the United States and Iran had not announced a peace agreement and that attacks on vessels and energy infrastructure had not stopped. WTI reached a two-month low on Tuesday. On Thursday, Yemen's Iran-aligned Houthis claimed attacks, and continued threats to shipping brought buyers back, the report said.