Oil prices bounced back on Monday morning after two weeks of declines, as traders and investors waited for fresh updates from OPEC and the International Energy Agency (IEA) to see how the global oil market might move.
Brent crude, the global benchmark, rose above $64 per barrel, closing at $64.11 on November 10, 2025, up 0.75% from the previous day. While this is a modest increase, it marks a two-week high, giving a sense that the market is stabilizing after recent uncertainty. Over the past month, Brent has gained 1.25%, but it is still 10.75% below last year’s prices, showing that oil is not back to its peak yet.
The climb in prices comes as investors weigh supply and demand. OPEC and its allies, including Russia, have been loosening their production limits after months of controlling output.
At the same time, other oil producers like the United States have increased production. Together, these moves have added more oil to the global market, keeping prices in check.
WTI crude, the US benchmark, also rose above $60 per barrel, following the same pattern as Brent. The combination of more oil being produced and ongoing market uncertainty has made traders cautious but optimistic, as they look for guidance from OPEC and the IEA.
Geopolitics is also a major factor. US sanctions on Russia’s top oil companies, Rosneft and Lukoil, are creating ripple effects around the world. Countries that rely heavily on Russian oil, like China and India, are now looking for other suppliers, which adds complexity to global oil trade.
The combination of these supply adjustments, geopolitical concerns, and anticipation of the upcoming OPEC and IEA reports helped Brent and WTI recover some ground after recent losses.
