# Oil heads for second weekly loss even as Hormuz risks and U.S. blockade of Iran persist

*Friday, November 13, 2026 at 8:11 AM UTC — Hamer Intelligence Services Desk*

**Published**: 2026-11-13T08:11:04.656Z (42m ago)
**Category**: markets | **Region**: Global
**Importance**: 7/10
**Sources**: https://t.me/militarysummary/32833 | https://t.me/militarysummary/32832 | https://t.me/operativnoZSU/226026 | https://t.me/operativnoZSU/226025 | https://t.me/operativnoZSU/226024
**Permalink**: https://hamerintel.com/data/articles/23343.md
**Source**: https://hamerintel.com/summaries

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**Deck**: Oil prices are on track for a second straight weekly decline as fears of a wider Middle East escalation ease, even though risks to shipping through the Strait of Hormuz and a continuing U.S. blockade of Iran still hang over supply routes.

Crude prices are slipping for a second week in a row, suggesting traders are paying more attention to demand signals and current supply levels than to persistent flashpoints around Iran and the Strait of Hormuz.

By Friday, oil benchmarks were heading for another weekly loss, according to Reuters, as markets stepped back from earlier expectations of a broad Middle East war. This softer pricing comes despite continuing dangers for commercial shipping through the Strait of Hormuz and what Reuters described as an ongoing U.S. blockade of Iran.

From the perspective of tanker crews and shipowners, the security picture is still tense. The Strait of Hormuz remains a narrow, heavily watched passage used by a large share of the world’s seaborne oil and gas exports. Reports of possible mines, attacks or military activity near the corridor can force changes in routing and operating procedures, regardless of where futures prices settle.

Market participants appear to be calculating that, for now, neither Washington nor Tehran wants to trigger an all‑out conflict that would shut down major flows. At the same time, they are weighing weaker economic data in key consuming regions and the capacity of other producers to increase output or reroute supplies if localized disruptions occur.

For policymakers, lower oil prices provide short‑term relief on inflation and energy costs. The risk is that price declines mask how dependent flows through chokepoints remain on fragile security arrangements. A single successful attack that sidelines multiple tankers or key infrastructure could change sentiment quickly, especially if it coincides with strong seasonal demand or outages elsewhere.

Producers around the Gulf must continue planning against both price volatility and physical threats. Insurance premiums, the willingness of tanker operators to enter certain areas and the diplomatic fallout from association with U.S. or Iranian actions all feed into how they manage exports.

In the coming days, traders and officials will be watching for any confirmed incidents involving ships near Hormuz, visible adjustments in U.S. or Iranian naval deployments, and fresh policy signals from major exporters. Those developments will help determine whether markets keep discounting geopolitical risks or start building them back into prices.