CommoditiesMedium•11 November 2026•
1 min read
Oil Prices Rise 1% as Iran Bans Enriched Nuclear Material Exports
Key Facts
1Oil prices rose approximately 1% on Wednesday following statements from Iran's security chief.
2Tehran announced it would not allow any enriched nuclear material to leave the country.
Oil prices rose approximately 1% on Wednesday, November 11, 2026, following statements from Iran's security chief. MarineLink reported that Tehran announced it would not allow any enriched nuclear material to leave the country, a move that reversed a trend that saw prices hit two-month lows in the previous session.
The price increase follows a hardening of Iran's nuclear stance, which has dampened hopes for a diplomatic resolution and increased geopolitical risk premiums. According to Kpler data, Middle East supply outages fell to about 3.8 million barrels per day in early November, even as vessel attacks in Gulf shipping lanes continued to create market uncertainty.