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Brent settled at $92.76 a barrel on November 11 and rose to $95.82 on November 12 after conflicting signals on the US-Iran conflict. Trump's comments on an imminent Iran agreement raised concern, while later reports pointed to diplomatic progress and recovering Middle East supply.
Saudi Arabia reported a 26% month-on-month rise in October production.
Price swings driven by Iran diplomacy and Hormuz shipping risk raise energy and freight cost uncertainty for feed buyers. Expected supply recovery is pulling prices lower, which partly offsets the geopolitical risk premium.
maritimenews.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.
