WTI Oil Drops Below $87 as Fed Tightening Bets Weigh on Demand

Key Facts

WTI crude oil prices retreated 1.2% to hit session lows below $87.00 on November 13, 2026. FXStreet News reported that the decline erased a portion of the previous day's 3% gains as macroeconomic concerns took center stage over geopolitical risk premiums.

Market expectations of a steeper Federal Reserve tightening cycle are weighing on the US oil consumption outlook. This downward pressure follows data from November 12, 2026, showing that US crude oil stocks increased by 4.657 million barrels according to the EIA Weekly Petroleum Report, significantly missing the forecast for a 1.1 million barrel draw.

Federal Reserve Chair Kevin Warsh is scheduled to deliver a speech on November 16, 2026, which may provide further clarity on the trajectory of monetary policy and its impact on energy demand.