CommoditiesMedium•13 November 2026•
1 min read
Oil Prices Rise as Trump Dampens Hopes for Iran Deal
Key Facts
1Oil prices rose following comments from President Trump that dampened expectations for a swift deal with Iran.
2Markets ignored bearish U.S. inventory data, focusing instead on geopolitical tensions.
Oil prices rose following comments from President Trump that dampened expectations for a swift deal with Iran. Seeking Alpha reported that crude oil futures reversed early losses to close higher after the President stated the U.S. does not seek a peace deal with Iran, blunting recent market enthusiasm for a negotiated solution.
Markets ignored bearish U.S. inventory data to focus instead on geopolitical tensions and the risk of supply disruptions. Data released on November 12, 2026, showed a crude oil stock build of 4.657 million barrels according to the EIA Weekly Petroleum Report, while gasoline stocks increased by 1.799 million barrels on the same date.