EL7.AI
ForexMedium•10 November 2026•
1 min read

Oil Prices Slide as Fed's Waller Signals Potential 50bps Rate Hike

Key Facts

1WTI crude oil fell 2.25% to $84.90 after President Trump downplayed the likelihood of fresh strikes on Iran following regional appeals.
2Fed Governor Christopher Waller stated the Fed should consider a 50-basis-point hike if core CPI rises 0.3% month-over-month or higher.
3The US dollar traded firmer across the board as markets braced for the 8:30 AM ET CPI release.

WTI crude oil prices fell 2.25% to $84.90 after President Donald Trump downplayed the likelihood of fresh strikes on Iran. InvestingLive reported that the decline followed regional appeals, which effectively reduced the supply risk premium previously priced into the market.

Federal Reserve Governor Christopher Waller stated that the central bank should consider a 50-basis-point rate hike if core CPI rises by 0.3% month-over-month or higher. The US dollar traded firmer against major peers on November 10, 2026, as inflation data released the same day showed core CPI at exactly the 0.3% threshold flagged by Waller.

Markets are now looking toward the OPEC Monthly Report scheduled for November 11, 2026, followed by the EIA Weekly Petroleum Report on November 12, 2026, for further direction on global energy balances.

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