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Oil fell after Donald Trump said an energy ceasefire between Russia and Ukraine had taken effect, though Zelensky said no final agreement had been reached. Brent dropped below $104 a barrel and WTI below $91 despite continued Houthi attacks on Saudi Arabia and tanker attacks near Hormuz.
Easing strikes on Russian and Ukrainian energy infrastructure would reduce supply risk, which pushes down crude and diesel costs for feed buyers. The claim is unconfirmed, so prices could reverse quickly if hostilities resume.
gmteight.comNov 15, 2026After 259 past bearish geopolitics events, Crude Oil (Brent) moved a median -3.1% over 5 sessions (35% higher; middle half -7.6% to +1.5%), and -5.5% 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.
