November 7, 2026
Crude oil futures rose slightly at the end of trading on Friday, driven by renewed fears about the possibility of the United States launching new strikes against Iran, following statements by US President Donald Trump in which he hinted that he would soon make a decisive decision about pursuing a peace agreement or destroying what remains of Iran.
In terms of trading, Brent crude futures for January delivery settled at $98.32 per barrel, recording a slight increase of 3 cents, or 0.03%. In the same context, US West Texas Intermediate crude futures ended their trading at $90.83 per barrel, achieving gains of 31 cents, or 0.34%.
Despite this, Brent crude suffered a sharp weekly loss of 16.4%, with prices recording their largest weekly decline in percentage terms since the Covid-19 pandemic in 2020, as well as recording their largest weekly decline in absolute value, according to data from the London Stock Exchange Historical Group dating back to 1988.
