Oil Prices Edge Lower As US Maintains Iran Blockade Amid Continuing Supply Risks

(MENAFN- Zex PR Wire) LONDON, United Kingdom, November 13, 2026, ZEX PR WIRE, International oil prices were little changed to lower on Friday, with Brent crude and West Texas Intermediate futures heading towards a second consecutive weekly decline. The market remained caught between expectations that the United States would maintain restrictions on Iranian oil shipments and continuing concerns about attacks on energy infrastructure and shipping routes in the Middle East.

Brent crude futures slipped by one cent to $95.41 per barrel, while US West Texas Intermediate crude declined by 20 cents to $88.52 per barrel in early trading. Brent was on course to record a weekly decline of approximately 2.4%, while WTI was set to fall around 2.5%. The latest price movements followed substantial losses in the previous week, highlighting the volatility that has shaped energy markets during the ongoing regional conflict.

US Policy Influences Supply Expectations

US President Donald Trump indicated that the United States would continue its blockade of Iranian oil shipments and trade. His comments reduced expectations that a near-term agreement with Iran would quickly change the restrictions affecting the country's energy exports.

The policy position has created a complicated outlook for oil markets. Continued restrictions can limit the volume of Iranian crude available to international buyers, while the possibility of a broader diplomatic settlement could reduce the perceived risk of further supply disruptions.

Investors are also assessing the implications of the ongoing US-Israel war with Iran, which has entered its ninth month. The conflict has affected sentiment across the energy sector, with traders responding to developments involving regional infrastructure, shipping activity and government statements.

Shipping Risks Keep the Market Uncertain

Concerns about maritime security remain an important source of uncertainty. Reports have indicated that tankers were hit in the Strait of Hormuz, while Yemen's Houthi movement claimed attacks on Saudi energy facilities. Reuters noted that these claims had not been independently verified.

The Strait of Hormuz is a strategically important route for international energy transportation. Any prolonged disruption could affect the movement of crude oil and other petroleum products from major Gulf producers to global markets.

The market has therefore been responding to two opposing forces. Diplomatic developments and expectations of reduced conflict intensity can ease the risk premium in oil prices, while attacks on infrastructure and shipping can quickly restore concerns about supply security.

US Crude Inventories Add to Downward Pressure

Domestic supply data in the United States also contributed to the softer market environment. US crude inventories increased by 4.7 million barrels to 414.4 million barrels, according to the figures cited in the Reuters report.

A rise in inventories can indicate that available supply is exceeding immediate demand or that refinery and export activity has changed. Although a single weekly increase does not establish a longer-term trend, it can influence short-term pricing expectations.

Energy Markets Face Competing Signals

Oil markets are likely to remain sensitive to developments in the Middle East, US policy decisions and inventory data. The prospect of a second consecutive weekly decline suggests that recent supply concerns have not completely reversed the downward momentum established earlier in the month.

However, the persistence of geopolitical risks means that the outlook remains uncertain. Energy companies, transport operators and oil-importing economies will continue to assess how changing supply conditions could affect costs and business planning.

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