Will WTI Crude Oil (WTI) hit (HIGH) $110 in November?

As of November 6, 2026, Polymarket prices “Will WTI Crude Oil (WTI) hit (HIGH) $110 in November?” at 18% YES with $68K traded. No tracked wallet holds a position on this market, so there is no verdict.

WTI November futures already touched $110.48 intraday before expiring at $101.79, so a close at $110 never occurred despite the brief spike.

What’s Happening

U.S. West Texas Intermediate crude for November fell 1.8% to settle at $101.79 per barrel on Tuesday, October 20, 2026, retreating sharply from a session high of $110.48 as traders priced in hopes for diplomatic progress in the Middle East. The November contract expired that day, with the December WTI contract down 26 cents at $98.28. Brent for December delivery slipped 0.7% to $108.79, well off an intraday peak of $111.99. The pullback matters for the question of whether WTI crude oil (WTI) will hit (HIGH) $110 in November, since the front-month contract briefly touched that threshold before expiring below it. [CNBC, Oct 20]

The volatility follows a supply scare that lifted Brent above $110 on Friday, October 16, the first time prices had reached those levels in almost five months. Cargo volumes through the Strait of Hormuz are nearing pre-war levels, topping 100 million barrels of crude last week, yet prices remain stubbornly elevated, leaving President Donald Trump with fewer options to tame energy costs ahead of the November 3 midterm elections. Crude had pushed toward $118 a barrel in late October, and analysts note that recovery in Middle East crude exports has not been matched by refined fuel supplies, keeping prices vulnerable to sharp swings. [Rigzone, Oct 16]

Attention now centers on Qatar-mediated talks, further Hormuz incidents and U.S. strike decisions. Eurasia Group says escalation could push Brent to $110–$125 a barrel, a range that would likely drag WTI toward the $110 threshold referenced in the WTI crude oil (WTI) hit (HIGH) $110 in November contract. For now, peace hopes have capped upside, with Brent sliding back toward $100 amid volatile trading. Whether WTI crude oil (WTI) can hit (HIGH) $110 in November depends largely on whether diplomatic progress holds or supply risks re-escalate in the coming weeks. [Gulf News, Nov 06]

Traded on Polymarket — $68K Volume