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Iran launched missiles at Israel and Israel threatened retaliation, escalating Middle East tensions. Analysts flagged the possibility of disruption to oil flows from the region.
Fear of supply disruption from the Middle East typically lifts crude prices, which raises energy, diesel and fertilizer costs and can support vegetable oil and biofuel-linked feedstock prices.
apnews.comAssociated PressOct 4, 2024After 626 past bullish geopolitics events, WTI moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% over 20.
After 656 past bullish geopolitics events, BRENT moved a median +1.9% over 5 sessions (63% higher; middle half -2.7% to +6.6%), and +0.7% 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.
