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Brent and U.S. WTI crude rose 1.39% and 0.57%, respectively, on November 11. Early on November 12, Brent was steady while WTI fell. Markets are watching Middle East supply and shipping risks in the Strait of Hormuz. The fuel prices listed for Vietnam reflect the November 5 adjustment.
Global oil prices rebounded on November 11, 2026, after Iran said it would not allow enriched nuclear material to be moved out of the country, dampening hopes for easing tensions. Brent crude futures closed at $92.76 a barrel, while Middle East shipping risks and an attack on a Russian port also drew market attention.
Brent crude futures briefly fell below $90 a barrel on November 10 but closed above $91, down about $22 from the end of October. JPMorgan Chase says global oil production has exceeded consumption, while the prospect of a US-Iran agreement has eroded the risk premium previously priced into oil.
