Brent Oil Prices Rise Ahead of OPEC+ Meeting; U.S. Crude Trading Halted Due to Exchange Issues
November 28, 2025133 VuesTemps de lecture: 2 minutes
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Brent crude oil futures saw a notable increase on Friday as investors awaited updates regarding the ongoing Ukrainian crisis and prepared for the upcoming OPEC+ meeting scheduled for Sunday, where potential production adjustments are on the agenda.
Brent futures for January delivery rose by 0.52% to $63.67 per barrel at 09:37 Moscow time, despite prevailing uncertainties in the global energy market.
In contrast, trading for West Texas Intermediate (WTI) crude was unexpectedly halted due to a technical issue at the CME Group exchange, where a cooling system failure at one of its data centers led to a suspension of price updates for all futures contracts, causing significant confusion among traders.
Last Wednesday, U.S. crude was priced at $59.08 per barrel, reflecting a 0.73% increase, while no closing prices were recorded on Thursday due to the Thanksgiving holiday in the United States, which contributed to reduced trading activity and increased volatility.
Both Brent and WTI are on track for a fourth consecutive monthly decline, marking the longest losing streak since 2023, driven by expectations of rising global supply and ongoing oversupply conditions.
Initial signs of a potential peace agreement between Russia and Ukraine had led to a decrease in oil prices earlier in the week, but prices have regained some stability over the past three sessions as negotiations continue.
Global markets view the forthcoming OPEC+ meeting as a critical juncture that may influence oil price trends in the coming weeks, with expectations for decisions that could alleviate supply pressures and restore stability in energy markets.
Brent futures for January delivery rose by 0.52% to $63.67 per barrel at 09:37 Moscow time, despite prevailing uncertainties in the global energy market.
In contrast, trading for West Texas Intermediate (WTI) crude was unexpectedly halted due to a technical issue at the CME Group exchange, where a cooling system failure at one of its data centers led to a suspension of price updates for all futures contracts, causing significant confusion among traders.
Last Wednesday, U.S. crude was priced at $59.08 per barrel, reflecting a 0.73% increase, while no closing prices were recorded on Thursday due to the Thanksgiving holiday in the United States, which contributed to reduced trading activity and increased volatility.
Both Brent and WTI are on track for a fourth consecutive monthly decline, marking the longest losing streak since 2023, driven by expectations of rising global supply and ongoing oversupply conditions.
Initial signs of a potential peace agreement between Russia and Ukraine had led to a decrease in oil prices earlier in the week, but prices have regained some stability over the past three sessions as negotiations continue.
Global markets view the forthcoming OPEC+ meeting as a critical juncture that may influence oil price trends in the coming weeks, with expectations for decisions that could alleviate supply pressures and restore stability in energy markets.
