Brent crude started low at $67.71/bbl and peaked at $76.57/bbl; prices fluctuated throughout the month, caused by a weakened demand outlook as Omicron cases spread.

GBP depreciated throughout November, starting at 1.344 against USD amid reintroduced travel restrictions and weakened economic prospects, before dropping to 1.325.

Negotiations to reinstate the Iran nuclear deal grinded to a halt as Iran’s new hardline government disposed of most compromises made by previous government.