Crude oil prices fall as Brent trades at $91.72 on peace-talk hopes
Last Updated: 12th November 2026 - 03:44 pm
Crude oil prices fell on Thursday, November 12, with Brent crude futures down 1.11% at $91.72 a barrel around 9.20 AM on hopes for peace talks involving the US, Iran, Russia and Ukraine. US West Texas Intermediate crude futures fell 0.97% to $85.71 a barrel at the same time. The decline followed gains in both benchmarks in the previous session, while disputes and supply disruptions remained unresolved.
Brent trades at $91.72 as crude oil prices fall
Russia-Ukraine talks produce a prisoner-exchange agreement
The prisoner-exchange agreement emerged from negotiations held over two days in Abu Dhabi, according to the Russian and Ukrainian negotiators.
US mediators said the talks did not resolve major disputes, with territory among the issues still under discussion.
Ukrainian President Volodymyr Zelenskyy expressed hope that Ukraine would make concrete progress towards ending the conflict within the year.
Iran talks remain divided over nuclear material and strikes
Iranian security chief Mohsen Rezaei said Tehran would not permit even a single particle of enriched nuclear material to leave Iran.
Rezaei warned that consequences would follow if the US launched fresh strikes.
Washington said nuclear issues must form part of any initial talks with Iran aimed at ending the eight-month-old conflict.
US officials downplayed the need for further military action.
OPEC+ output rose as Strait of Hormuz shipments stayed disrupted
OPEC+ crude production rose in October after Saudi Arabia increased its output, according to OPEC+ crude production data.
Shipments through the Strait of Hormuz continued to face disruption, according to reports on shipping conditions in the waterway.
US crude stocks increase by 9 million barrels
US crude stocks increased by 9 million barrels in the latest week, based on American Petroleum Institute data cited by Reuters.
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