Crude Oil Prices Fall as Hopes for Iran and Ukraine Peace Talks Weigh on Markets (November 12, 2026)

Crude oil prices declined by more than $1 on Thursday as hopes of progress in peace negotiations involving Iran and Ukraine weighed on market sentiment, as per news reports. Brent and US crude futures both fell 1.2% in early trading. 

Brent crude futures dropped $1.14, or 1.2%, to $91.62 a barrel by 0141 GMT. US West Texas Intermediate (WTI) crude futures declined $1.04, or 1.2%, to $85.49 a barrel. The fall followed gains in the previous session, when Brent rose 1.4% and WTI gained 0.6%. 

Peace Talks Between Russia and Ukraine Weigh on Oil Prices 

Hopes of progress in negotiations between Russia and Ukraine added pressure on crude oil prices. Representatives from both countries agreed to a major prisoner exchange following two days of peace talks in Abu Dhabi, which concluded on Wednesday. 

However, US mediators said significant differences remained over key issues, including territorial matters. Ukrainian President Volodymyr Zelenskiy said Kyiv hoped to achieve concrete results towards ending the war this year. 

Iran-US Tensions Keep Supply Concerns Alive 

Developments surrounding Iran also remained in focus. Iranian security chief Mohsen Rezaei said the country would not allow any enriched nuclear material to leave its territory and warned of consequences if the US launched further strikes. 

Washington has maintained that nuclear issues must form part of initial negotiations aimed at ending the eight-month-old conflict. US officials have also played down the need for additional military action. 

Uncertainty surrounding the Strait of Hormuz continues to raise concerns about potential disruptions to global oil shipments. 

Read More: BHEL Share Price in Focus; Company Wins ₹600-900 Crore Order From Power Grid! 

Rising US Crude Inventories Add Pressure 

US crude inventories increased by 9 million barrels in the latest week, according to data from the American Petroleum Institute cited by market sources. 

Official inventory figures from the US Energy Information Administration were scheduled for release on Thursday after being delayed due to a US national holiday. Meanwhile, OPEC+ crude oil production increased sharply in October, led by higher output from Saudi Arabia despite continued disruptions to shipments through the Strait of Hormuz. 

Conclusion 

Crude oil prices remain under pressure amid hopes of diplomatic progress in the Middle East and Ukraine, alongside rising US inventories and higher OPEC+ production. However, uncertainty over the Strait of Hormuz continues to keep supply concerns in focus. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks. Read all related documents carefully before investing.