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2026-11-11T15:02:15.737Z

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Oil Rises on Iran Dispute

Oil Rises on Iran Dispute

Oil prices rose by about 1% on Wednesday, with Brent gaining 1.4% to $92.77 a barrel and West Texas Intermediate rising 0.9% to $86.80, after Iran reaffirmed its refusal to remove enriched nuclear material and hopes for de-escalation faded. Supply risks added to the gains: 37 vessels were targeted in and around the Strait of Hormuz during October, while Russian refining capacity fell by about 30% following Ukrainian attacks. By contrast, U.S. crude inventories rose by 9 million barrels in the week ending November 6.

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