{"id":4328,"date":"2026-11-13T10:03:44","date_gmt":"2026-11-13T05:03:44","guid":{"rendered":"https:\/\/ipp-news.com\/?p=4328"},"modified":"2026-11-13T10:03:44","modified_gmt":"2026-11-13T05:03:44","slug":"oil-prices-set-for-second-weekly-decline-as-trump-to-stay-with-iran-blockade","status":"publish","type":"post","link":"https:\/\/ipp-news.com\/?p=4328","title":{"rendered":"Oil prices set for second weekly decline as Trump to stay with Iran blockade"},"content":{"rendered":"
\n

Oil prices were mixed on Friday, but set for their second weekly decline, as the US plans to continue its Iranian blockade, reducing the chance of renewed large-scale fighting \u200bthat could disrupt Middle East supplies, though attacks on shipping remain a danger.<\/strong><\/p>\n

Brent futures were \u200clittle changed, down 1 cent at $95.41 a barrel. West Texas Intermediate (WTI) declined by 20 cents, or 0.25%, to $88.52 a barrel.<\/p>\n

Friday\u2019s declines reversed two days of gains amid a volatile trading week, with earlier hopes for a rapprochement<\/a> \u200bof the US-Israel war against Iran, now in its ninth month, offset by strikes on Saudi \u200bArabian infrastructure by Yemen\u2019s Iran-backed Houthis and attacks on tankers transporting crude out \u2060of the Gulf.<\/p>\n

Despite the swings in prices amid the inconclusive war, Brent is set for a 2.4% \u200bdrop this week, after plunging 16% the previous week, while WTI is set for a 2.5% decline, \u200bafter dropping 13% previously.<\/p>\n

Prices slipped on Friday after US President Donald Trump said on Truth Social that a deal with Iran was not necessary<\/a> to end the war, indicating he will stick with the blockade on oil shipments and trade and economic \u200bsanctions.<\/p>\n

The overall decline in prices over the past two weeks reflects a good assessment of the risks \u200bto the market, said Chris Brankin, global advisor for Melbourne-based brokerage MiTrade.<\/p>\n

\u201cI think the oil market is priced to perfection \u200cat \u2060this point,\u201d he said, adding that prices have bounced back a bit but without much conviction on the part of traders, which shows they are following closely what is happening in the Middle East.<\/p>\n

Despite the easing prices, risks remain for oil shipments out of the Strait of Hormuz, the key waterway for crude \u200bexports from the main \u200bMiddle East producers.<\/p>\n

On Thursday, \u2060Iran\u2019s military said explosions hit four oil tankers in the Strait of Hormuz after ignoring warnings. Reuters could not immediately verify the Iranian accounts.<\/p>\n

That \u200bsame day, Yemen\u2019s Iran-aligned Houthis said they had<\/a> attacked a pumping station on the \u200bSaudi East-West \u2060oil pipeline; an oil facility in the Saudi Red Sea city of Yanbu; and an Aramco building in the capital, Riyadh.<\/p>\n

Also pressuring prices, US crude and fuel inventories rose last week, driven by softer refined products demand \u2060and \u200ba jump in oil imports, the Energy Information Administration said on \u200bThursday.<\/p>\n

Crude inventories rose by 4.7 million barrels to 414.4 million barrels in the week ended November 6, the EIA said, compared with \u200banalysts\u2019 expectations in a Reuters poll for a 1.1 million-barrel draw.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Oil prices were mixed on Friday, but set for their second weekly decline, as the US plans to continue its Iranian blockade, reducing the chance of renewed large-scale fighting \u200bthat could disrupt Middle East supplies, though attacks on shipping remain a danger. Brent futures were \u200clittle changed, down 1 cent at $95.41 a barrel. West Texas Intermediate (WTI) declined by 20 cents, or 0.25%, to $88.52 a barrel. Friday\u2019s declines reversed two days of gains amid a volatile trading week, with earlier hopes for a rapprochement \u200bof the US-Israel war…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-4328","post","type-post","status-publish","format-standard","hentry","category-english"],"gutentor_comment":0,"_links":{"self":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts\/4328","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4328"}],"version-history":[{"count":0,"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts\/4328\/revisions"}],"wp:attachment":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4328"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4328"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4328"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}