Oil dips as drawn-out Ukraine talks and supply concerns persist

Friday, November 28, 2025 at 09:00 UTC+01:00 (+0100), N/A, N/A

News category : Commodity and Currency Events

On November 28 oil benchmarks lost ground as market participants weighed mixed diplomatic signals over the Russia Ukraine conflict alongside reports that OPEC and its allies were reviewing supply settings. Negotiations linked to a possible settlement remain complex and protracted, which limits immediate changes to sanctioned flows, while producer discussions about future capacity and baseline mechanisms temper near-term price upside. Traders reduced speculative long positions and sellers increased hedges, citing an elevated risk of 2026 surplus in some scenarios. Energy equities and commodity derivatives adjusted exposures accordingly, with volatility spiking on headline releases and leaks.

Overall market impact

Mild bearish market impact - strength score : 76/100

Detailed breakdown of market impact over instruments, sectors, and asset classes

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Impacted instruments :

Brent crude futures

WTI crude futures

Energy equities

Oil-exporter currencies

Commodity derivatives

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