
Israel and Iran launched fresh attacks on each other on Sunday, killing and wounding civilians and raising fears of a wider regional conflict. Yemen's Houthis joined the fighting, and crude oil prices initially rose near 4% when markets reopened.
U.S. stock futures opened slightly lower as investors moved to risk-off positions.
Threats to Middle East oil production and transport raise crude prices, which lift diesel and energy costs for feed mills and transport. Higher energy costs can also support soyoil and other biofuel-linked feed inputs.
After 656 past bullish geopolitics events, Crude Oil (Brent) moved a median +1.9% over 5 sessions (63% higher; middle half -2.7% to +6.6%), and +0.7% over 20.
After 626 past bullish geopolitics events, Crude Oil (WTI) moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% 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.
Fresh strikes and the Houthis joining the fighting lifted crude about 4% at the Monday reopen, adding to the rally on wider-war fears.
The weekend escalation, with the Houthis joining, lifted crude about 4% when markets reopened, adding to the gains through June 15.