The quotation of the Brent oil barrel for delivery in January ended today on the London futures market at a low of 1.20%, for the $91.49, in the midst of expectations of descalation between US and Iran.
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10/11/2026
by
Lusa
A brent oil barrel quote for delivery in January ended today in London's futures market at 1.20%, for the $91.49.
The North Sea crude, a reference in Europe, closed the session at Intercontinental Exchange to quote $1.08 below 92.57 with which it ended the transactions on Monday.
The low heart was attributed to the possibility of ending the war initiated by US and Israel against Iran on 28 February.
Brent’s quote, which had already fallen 5.8% on Monday, maintained the trend after Donald Trump stated that the war against Iran is “practically ended on the military level” and that at the moment it seems “probably unlikely” that the US will attack it again.
The return to the market of the Middle East producers' share of crude oil, increasing the supply of oil, also contributed to the fall in the quotation.
BankPro estimated that joint exports from Saudi Arabia, United Arab Emirates, Iraq and Kuwait increased by 10% in October from September to 15.53 million barrels a day.
His deputy administrator Paolo Broccardo, however, relativized the situation by saying that “it is still early to talk about a sustained bass market” and pointed out that price developments will depend on the military descalation that allows the reopening of the Strait of Ormuz.
“ Without diplomatic advances, attacks on ships and energy infrastructure in the Persian Gulf can keep oil prices high,” he said.