Oil prices rise after recent fall: Check rates

Business Nov 07, 2025

Oil prices made a comeback this Friday morning, breaking their recent losing streak. Brent crude for January climbed to $63.75, and US WTI for December hit $59.82.
Even on India's Multi Commodity Exchange, both November and December contracts saw small but steady gains.

Factors affecting oil prices

Market experts like Warren Patterson (ING Think) expect oil supplies to outpace demand by 2026, but warn that things could shift quickly if Russian exports get disrupted or refinery profits stay strong.
Meanwhile, Saudi Aramco has dropped its December prices for Asian buyers just as OPEC+ plans to boost output a bit in December.
In the US, crude stockpiles jumped by 5.2 million barrels last week—yet gasoline supplies are still running low compared to November 2022.