# ​Brent crude oil, silver and wheat prices drop on Middle East de-escalation​ | Levels to Watch | IG International

> Brent crude, silver and wheat prices dropped as hopes grew for a ceasefire between Hezbollah and Israel. Brent approached resistance near 75 before falling back toward the mid-October low. US wheat also slipped to a three-month low.

- Date: 2024-11-26 · published 2024-11-26T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude low
- Page: https://feedsoft.ai/events/11779-brent-crude-oil-silver-and-wheat-prices-drop-on-middle-east-de-escalation
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Easing Middle East tensions reduce the geopolitical risk premium in energy and can weaken the broader commodity complex, including wheat.

## Read by commodity

- BRENT: bearish ▼
- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2026-04-08 | [Brent crude oil prices drop amid Iran war ceasefire \| Trucking Dive](https://feedsoft.ai/events/10141-brent-crude-oil-prices-drop-amid-iran-war-ceasefire-trucking-dive.md) | -13.7% | -8.7% |
| BRENT | 2026-05-06 | [Brent Crude Price: Oil and gas plunge after report US and Iran near deal to end war](https://feedsoft.ai/events/9582-brent-crude-price-oil-and-gas-plunge-after-report-us-and-iran-near-deal-to-end.md) | -2.3% | -11.1% |
| BRENT | 2026-03-10 | [Oil dives, settles down 11% after Trump predicts Middle East de-escalation \| Reuters](https://feedsoft.ai/events/6628-oil-dives-settles-down-11-after-trump-predicts-middle-east-de-escalation-reuters.md) | +4.1% | +27.2% |
| BRENT | 2025-06-23 | [Oil prices tumble as Iran signals de-escalation with limited missile attack \| AP News](https://feedsoft.ai/events/9613-oil-prices-tumble-as-iran-signals-de-escalation-with-limited-missile-attack-ap.md) | -11.9% | -9.9% |
| BRENT | 2026-06-16 | [Corn, Wheat And Soy All See Prices Drop On Prospect Of US-Iran Deal \| ESM Magazine](https://feedsoft.ai/events/18835-corn-wheat-and-soy-all-see-prices-drop-on-prospect-of-us-iran-deal-esm-magazine.md) | -7.8% | -1.6% |
| WHEAT | 2026-06-16 | [Corn, Wheat And Soy All See Prices Drop On Prospect Of US-Iran Deal \| ESM Magazine](https://feedsoft.ai/events/18835-corn-wheat-and-soy-all-see-prices-drop-on-prospect-of-us-iran-deal-esm-magazine.md) | -0.9% | -0.7% |
| WHEAT | 2022-03-29 | [Wheat: Prices fall on peace talks, low demand \| Latest Market News](https://feedsoft.ai/events/42308-wheat-prices-fall-on-peace-talks-low-demand-latest-market-news.md) | -9.0% | -3.6% |
| WHEAT | 2026-10-23 | [Wheat prices fall to 14-week low on Black Sea hopes \| Peepals](https://feedsoft.ai/events/449-wheat-prices-fall-to-14-week-low-on-black-sea-hopes-peepals.md) | -0.6% | — |

## Sources

- ig.com: https://www.ig.com/en/news-and-trade-ideas/_brent-crude-oil--silver-and-wheat-prices-drop-on-middle-east-de-241126

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.