Oil prices have leveled out after a recent drop, with WTI at $86 and Brent just under $93 per barrel.
This comes as U.S.-Iran nuclear talks hit a standstill: an Iranian official made it clear they're not giving up any enriched nuclear material, which is a big sticking point for the US.
All this shows just how quickly global politics can shake up energy prices.
Saudi Arabia October output up 26%
Saudi Arabia just ramped up oil production by 26% in October (its highest monthly level in years) even with tensions running high and attacks on tankers in the Persian Gulf.
Meanwhile, Ukrainian drone strikes on Russian refineries are making Europe's diesel shortage worse, proving that energy markets are still at the mercy of world events.