# Brent jumps above $90 as Iran tension and Ukraine peace uncertainty weigh on energy prices

*Wednesday, November 11, 2026 at 4:06 PM UTC — Hamer Intelligence Services Desk*

**Published**: 2026-11-11T16:06:29.950Z (54m ago)
**Category**: markets | **Region**: Global
**Importance**: 8/10
**Sources**: OSINT
**Permalink**: https://hamerintel.com/data/articles/23173.md
**Source**: https://hamerintel.com/summaries

---

**Deck**: Brent crude rose about $2 to trade above $90 a barrel on 11 November, with traders citing uncertainty over Iran and Ukraine-related peace talks.

Oil markets are again responding sharply to geopolitical signals.

On 11 November, Brent crude climbed by about $2 to trade above $90 a barrel. Market commentary tied the move to uncertainty around Iran and over the outcome of peace talks related to the war in Ukraine.

The price action comes alongside other signs of stress in the energy system. Poland’s Orlen has terminated a long-term LNG contract with QatarEnergy after Iranian attacks disrupted Qatar’s gas exports, according to a Reuters report. That cancellation is described as the first known termination of a long-term QatarEnergy contract since the Iran war began.

Saudi Arabia, meanwhile, told OPEC it raised oil production in October to 10.6 million barrels per day, slightly above its official OPEC+ quota of around 10.5 million barrels per day, and sent part of the extra output into storage. That gives Riyadh room to adjust flows in response to further price swings.

If Brent holds above $90 for an extended period, governments and central banks will have to reassess how much energy costs could feed back into inflation. Investors will be watching for any further disruption tied to Iran, shifts in expectations around Ukraine-related diplomacy, and fresh signals from major producers on whether they plan to add or withhold supply.