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Oil prices recover Nov 26 from one-month lows: rate bets steady Brent, WTI

Oil prices recover Nov 26 with Brent and WTI edging up after a one-session slump. Early moves were modest, as rate-cut hopes met geopolitical and supply risks.

Oil prices recover Nov 26: from one-month lows

Oil prices recover Nov 26 after sliding to oil prices one-month lows on Nov 25. As of 0114 GMT, Brent traded near $62.67 (+0.3%) and WTI near $58.09 (+0.24%), according to Reuters. However, gains were slight as traders weighed fresh headlines and macro signals.

Zoom in: the prior session’s pressure came from Ukraine peace signals that could increase Russian supply and from a cautious demand outlook. Reuters noted the one-day drop to oil prices one-month lows on Tuesday.

Timeline: three sessions of swings (Nov 24–26)

By the numbers: Oil prices recover Nov 26

• Nov 24: Brent settled at $63.37 (+1.3%), WTI at $58.84 (+1.3%), aided by rate-cut bets and doubts a peace deal would quickly boost exports.
• Nov 25: Brent fell to $62.48 (-1.4%), WTI to $57.95 (-1.5%) as peace signals weighed.
• Nov 26 (early): Both benchmarks inched higher.

The upshot: traders toggled between ukraine peace talks oil headlines and macro cues. Meanwhile, some support came from fed rate cut oil demand hopes building into December.

Ukraine peace talks revive supply risk

Ukraine’s openness to a U.S.-brokered framework raised prospects of sanction relief that might bring more Russian barrels back. Consequently, that narrative pressured prices on Nov 25 and lingered into Wednesday. As Reuters reported, ukraine peace talks oil developments have become a near-term bearish catalyst.

Why Nov 26 oil prices recovered

Rate-cut expectations helped steady sentiment. Reuters and other outlets cited growing odds of a December move, which would, in theory, spur activity and lift demand. Therefore, fed rate cut oil demand optimism underpinned the modest bounce as Oil prices recover Nov 26.

Oversupply outlook caps rallies into 2026–2027

Even with a bounce, the 2026 oil oversupply forecast limits upside. Deutsche Bank sees at least a 2 mbpd surplus in 2026 with no return to deficits through 2027, according to Reuters. Separately, JPMorgan projects Brent at $57 and WTI at $53 in 2027 and expects supply growth to outpace demand in 2025–2026. As a result, the 2026 oil oversupply forecast continues to frame medium-term price caps.

Mixed U.S. inventory signals

Industry data pointed to a crude draw but product builds last week. According to market sources cited by Reuters, API reported lower crude stocks while gasoline and distillate inventories rose, with EIA data due Wednesday. Therefore, traders flagged the api crude draw eia setup as a short-term crosscurrent and will watch confirmation. In the meantime, the api crude draw eia pattern adds to volatility.

What’s Next: data and policy signals to watch

What’s next: watch EIA’s official figures, any breaks in ukraine peace talks oil momentum, and shifts in fed rate cut oil demand pricing. Additionally, monitor whether Oil prices recover Nov 26 marks a near-term floor or just a pause within a broader downtrend.