CommoditiesMedium•12 November 2026•
1 min read
WTI Crude Drops Below $85 on Peace Talk Hopes and Rising Inventories
Key Facts
1WTI crude oil prices declined to approximately $84.75 during early European trading hours on Thursday.
2Prices are pressured by hopes for progress in Middle East and Russia-Ukraine peace talks, alongside growing US inventories.
WTI crude oil prices declined below the $85.00 threshold during early European trading hours on Thursday, November 12, 2026. FXStreet reported that prices reached approximately $84.75, reversing recent gains for the US benchmark.
The market was pressured by renewed optimism regarding peace negotiations in the Middle East and Ukraine, which eased geopolitical risk premiums. Furthermore, reports of growing US inventories weighed on prices, as rising stock levels signal potential oversupply in the market.