Crude oil rebounds as expectations for an imminent pact fade against a backdrop of the lack of US-Iran progress
Crude oil has been edging higher lately against a backdrop of the lack of concrete breakthrough in US-Iran negotiations. So, the expectations for an imminent pact should be repriced and that will likely lead to a rebound in oil prices.
In this article
On the oil prices front, crude oil has been edging higher lately against a backdrop of the lack of concrete breakthrough in US-Iran negotiations, according to investingLive. So, the expectations for an imminent pact should be repriced and that will likely lead to a rebound in oil prices.
Inside the Oil prices story
Qatar stated yesterday that it secured at least two weeks for diplomatic efforts, while noting that considerable differences stay. It goes without saying that a concrete breakthrough would trigger a notable selloff and take oil prices back to pre-war levels relatively swiftly. On the daily chart, we can see that crude oil (CFD contract) is climbing back above the key 87.00 handle.
Why traders are watching oil prices
Oil prices affect inflation, company costs and the currencies of major producers and importers. Moves in crude often spill over into the Canadian dollar, Norwegian krone and energy stocks.
Supply decisions, inventory data and geopolitical risks can move crude quickly, and higher energy prices can complicate the job of central banks fighting inflation.
Market reaction and data
On the currency side, the latest ECB daily reference rates (2026-11-10) show EUR/USD 1.1214, GBP/USD 1.3423, AUD/USD 0.6904, NZD/USD 0.5628, USD/JPY 158.18, USD/CHF 0.8207, USD/CAD 1.4136, USD/CNY 6.6703. These are reference fixes, not live quotes.
What to watch next for oil prices
Watch for OPEC+ supply decisions, weekly inventory reports, demand signals from major economies and any geopolitical developments in producing regions.
Key scheduled releases on the economic calendar:
- GBP GDP m/m on Thu Nov 12, 07:00 UTC, forecast 0.0%, previous 0.1%
- USD Core PPI m/m on Fri Nov 13, 13:30 UTC, forecast 0.3%, previous 0.7%
- USD PPI m/m on Fri Nov 13, 13:30 UTC, forecast 0.4%, previous 1.3%
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FAQ
What is the latest oil prices news?
Crude oil has been edging higher lately against a backdrop of the lack of concrete breakthrough in US-Iran negotiations.
What drives oil prices?
Crude prices depend on supply from OPEC+ and other producers, global demand, inventory levels and geopolitical risk in key producing regions.
Where does this information come from?
This report is based on coverage from investingLive, checked against market data where available. It is a summary for information only and not investment advice.
Risk warning: This article is for information only and is not investment advice. Trading forex, CFDs, stocks and crypto carries a high risk of losing money. Prices move fast – check live quotes before you trade.
