Energy · New York, United States · United States of America · November 6, 2026

Analysts see oil moving toward oversupply as prices crush demand

Reported by 2 outlets · first reported Nov 6, 12:27 AM ET · from an earlier edition that day

Goldman Sachs and JPMorgan analysts say the oil market is moving back toward oversupply. High prices are cutting demand. Brent and WTI have lost about 12% this week. Rapidan Energy warned renewed US-Iran tension could still push prices above $100.

Why it matters

Lower oil prices would ease fuel costs, but war risk keeps prices volatile.

Background

Oil climbed after the Iran war disrupted shipping.

Sources

• OilPrice ↗Nov 6, 2:30 AM ET
• OilPrice ↗Nov 6, 1:05 AM ET
• CNBC ↗Nov 6, 12:27 AM ET

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