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AI Financial Intelligence
Professional analysis of central bank decisions

Markets

News
Forex
Stocks
Crypto
Gold
Commodities
Indices
ETFs

Analysis

Fed
ECB
COT
Economic Calendar

Learn

Service Guide
MCP Server
Oil

Company

About
Contact
Data Methodology
AI Disclosure
Pricing
Enterprise
Terms
Privacy
Security
WhatsApp

Status data is currently unavailable

The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.

BreakingCommodities

Oil Prices Record Largest Weekly Drop Since 2020 as Risk Premium Eases

First Detected: Nov 9, 2026, 1:40 AM

Last Update: about 2 hours ago

1 update

Event Summary

Brent crude fell more than 16% in the week ending November 9, its largest weekly decline since 2020. Futures settled below $98 a barrel, while West Texas Intermediate traded around $90. The decline followed expectations that the risk of military escalation with Iran would ease, lowering the risk premium. Markets are watching US-Iran talks as a key factor in easing those risks.

Timeline

Latest developmentabout 22 hours ago

Brent Crude Posts Steepest Weekly Drop Since Pandemic at 16% as Prices Slide to $92.97

Oil prices recorded their sharpest weekly decline since 2020 at 16%, as Brent fell to $92.97 on November 9, 2026, amid reports of diplomatic mediation over Iran.

Read the full story

Key facts

Brent crude recorded a weekly decline of more than 16%, its largest drop since 2020.
Brent futures fell below $98 a barrel while WTI traded around $90 a barrel.
The drop followed expectations that the risk of military escalation with Iran would ease, reducing the risk premium.
Brent crude prices plunged more than 16% last week, with futures settling below $98 a barrel.
West Texas Intermediate (WTI) is trading around $90 a barrel.
Markets are currently watching US-Iran talks as a key factor in easing risks of military escalation.

Price Impact

Since event start

CLUSD-4.56%

BZUSD-5.27%