Oil prices rebound, Trump says there is positive progress in negotiations with Qatar
2026-11-13 00:45:02
According to CoinMeta, oil prices have rebounded from their two-month lows, with Brent crude rising by about 0.6% to $92.01 per barrel, and WTI crude rising by 0.2% to $86.20 per barrel. Gasoline prices in the United States have fallen back to $3.94 per gallon, while diesel prices are around $6.13, still close to historical highs. President Trump stated that negotiations with Qatar show a "positive momentum" and hinted that additional U.S. strikes are unlikely. Iran's security chief, Mohammad Rezaei, opposed this, saying Tehran is still waiting for a clear response from the United States to its seven conditions. Even if an agreement is reached, it may take time to restore normal oil flow through the Strait of Hormuz, as mine clearance, insurance costs, and the willingness of shipowners remain key obstacles. Additionally, geopolitical risks in Russia have increased, with reports of a drone attack causing a fire at the Ust-Luga port area, resulting in three workers being injured. Brett Erickson of Obsidian Risk Advisors said that oil prices may be "significantly underestimated," and the market's optimistic expectations for an end to the conflict may be overpriced.
Source:Benzinga
This content is for market information only and does not constitute investment advice.
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