Will WTI Crude Oil (WTI) hit (HIGH) $105 in November?

As of November 7, 2026, Polymarket prices “Will WTI Crude Oil (WTI) hit (HIGH) $105 in November?” at 30% YES with $59K traded. No tracked wallet holds a position on this market, so there is no verdict.

Brent crude traded at $105.86 a barrel on November 3, but WTI would need a further rally to reach $105 given current odds of 30%.

What’s Happening

Oil markets entered November with sharp volatility as Middle East tensions escalated following US strikes on Iran's Qeshm Island, pushing Brent crude above $105 a barrel while NYMEX crude (WTI) traded at $97.48 on November 3, 2026. The move extended a rally that began in late October on Hormuz strikes, with traders weighing the probability of further conflict escalation after the US midterm elections. The question of whether WTI crude oil (WTI) will hit a high of $105 in November has drawn attention as the benchmark remains roughly $7.50 below that threshold despite the geopolitical premium. [The National, Nov 03]

The path to $105 has been complicated by diplomatic efforts. On October 20, WTI's November contract fell 1.8% to settle at $101.79 a barrel, pulling back from a session high of $110.48 as traders hoped for progress in Middle East negotiations; the expiring contract had already touched levels above the threshold earlier in the month. Qatari mediators returned to Tehran with a new proposal to end the war, according to reports on November 3, creating a two-way risk for crude prices. [CNBC, Oct 20]

Forecasters have revised upward their outlooks. Goldman Sachs raised its December Brent forecast to $105 a barrel from $90 and lifted its US WTI projection to $94 from $81, citing growing risks to global supplies and warning Brent could surge to $140 in 2027 if Gulf production remains substantially below its 2025 average. Whether WTI crude oil (WTI) can hit a high of $105 in November likely hinges on whether diplomatic talks stall or conflict re-escalates, with midterm results and mediator efforts in Tehran serving as the next catalysts. [The Economic Times, Nov 04]

Traded on Polymarket — $59K Volume