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Latest Oil Market News and Analysis for Nov. 6

Bloomberg Markets Thursday 05 November 2026, 23:08 UTC By Kanoko Matsuyama and Lorelei Smillie 1 min read
Key Points

Oil Heads for Steep Weekly Loss as Mideast Peace Prospects Rise Oil was on track for the biggest weekly loss since April after a volatile stretch of trading, as investors weighed prospects for an end to the months-long war in the Middle East. West Texas Intermediate rose to trade near $91 a barrel on Friday, extending a rebound from a sharp selloff following a Democratic sweep of the US midterm elections. Still, prices are down about 12% this week.

Oil Heads for Steep Weekly Loss as Mideast Peace Prospects Rise Oil was on track for the biggest weekly loss since April after a volatile stretch of trading, as investors weighed prospects for an end to the months-long war in the Middle East. West Texas Intermediate rose to trade near $91 a barrel on Friday, extending a rebound from a sharp selloff following a Democratic sweep of the US midterm elections. Still, prices are down about 12% this week. While there are hopes for a faster end to the nine-month conflict, major differences remain.
Latest Oil Market News (ORG) Mideast (LOCATION) the Middle East (LOCATION) Democratic (ORG) US (LOCATION)
Originally published by Bloomberg Markets Read original →

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