Oil prices have declined on global commodity markets, APA-Economics reports.
On November 11, the price of Brent crude oil futures for January 2027 delivery on the ICE London exchange fell by $1.52, or 1.64%, to $91.24 per barrel.
Meanwhile, the price of WTI crude oil futures for December 2026 delivery on the New York Mercantile Exchange (NYMEX) decreased by $1.29, or 1.49%, to $85.24 per barrel.
According to analysts, the decline in oil prices was driven by expectations of easing military tensions in the Middle East, a reduced risk of escalation in the confrontation between the United States and Iran, as well as an increase in global oil supply.
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