00:00Oil prices continued to tumble on 11 November, with Brent crude falling to around $92 to $93 per barrel, extending
00:09a nearly 20% decline from recent highs.
00:12The sell-off celebrated after U.S. President Donald Trump said he was highly unlikely to authorize new military strikes
00:19against Iran, while diplomatic efforts to ease tensions remain ongoing.
00:26The remarks helped calm market concern over potential disruptions to oil supplies from the Middle East, particularly through the Strait
00:34of Hormuz, one of the world's most important energy shipping routes.
00:38Investors increasingly believe that ongoing negotiations could reduce the risk of a broader regional conflict, weakening the geopolitical premium that
00:47had previously supported crude prices.
00:50Market sentiment was also pressured by signs of ample global supply and softer demand.
00:56Analysts noted that oil fundamentals have weakened, with physical crude markets showing signs of oversupply and inventories remaining sufficient.
01:06Expectations of higher output from major producers have further reinforced the bearish outlook for prices.
01:12Technical analysts warn that a sustained break below the $94 support level could send Brent crude towards a $89 to
01:21$90 a barrel range.
01:24The sharp decline in oil prices could provide relief for inflation pressures globally, while traders continue to monitor developments in
01:32U.S.-Iran diplomacy and broader Middle East security risks.
