Oil Prices Today, November 21, 2025: Brent Slides Near $62 as Peace Talks and Glut Fears Hit Crude
Oil prices dropped to four-year lows on Friday, with Brent crude trading near $62 a barrel and U.S. WTI just under $58, both down about 2% on the day. The slide followed reports of possible Russia–Ukraine peace talks and new U.S. sanctions on Russian oil majors. Both benchmarks are now 15–25% below early 2025 peaks. Markets reacted to easing war risk and concerns over a global supply glut.