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Brent crude futures opened Sunday at $95.84, Friday's settlement, after a second straight weekly decline of about 2.5 percent. Iran said three oil tankers hit naval mines in the Strait of Hormuz, a claim the US military disputes, and shipping through the strait remains about 65 percent below pre-war levels.
Oil price moves feed into diesel, freight and fertilizer costs for feed production, so the mine claims add upside risk. The supply surplus behind the two weekly losses has not changed, which limits the likely rally.
financefeeds.comNov 15, 2026After 65 past neutral geopolitics events, Crude Oil (Brent) moved a median -0.6% over 5 sessions (43% higher; middle half -4.1% to +2.2%), and -2.7% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
