# Oil Posts Best Week Since 2016 as Trump Calls Off Iran Raids - Bloomberg

> New York crude futures rose on Friday to finish a 9.4% weekly rally, the best week since 2016. The gain followed President Trump's statement that he had called off strikes on Iran over concern about civilian casualties, while he said he was in no hurry to respond to provocations.

- Date: 2019-06-21 · published 2019-06-21T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude high
- Page: https://feedsoft.ai/events/12314-oil-posts-best-week-since-2016-as-trump-calls-off-iran-raids-bloomberg
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Continued uncertainty over a possible U.S.-Iran conflict keeps a geopolitical risk premium in crude, which supports energy costs for feed producers. A firm crude market also keeps biofuel and diesel-linked demand supportive for vegetable oils.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-01-29 | [Brent Crude Settles at Highest Since July on Trump’s Iran Threat - Bloomberg](https://feedsoft.ai/events/21235-brent-crude-settles-at-highest-since-july-on-trump-s-iran-threat-bloomberg.md) | +2.9% | +3.6% |
| WTI | 2026-07-08 | [Soybean Oil Hits Three-Week High as US-Iran Ceasefire Dissolves - Bloomberg](https://feedsoft.ai/events/18449-soybean-oil-hits-three-week-high-as-us-iran-ceasefire-dissolves-bloomberg.md) | +12.5% | +7.9% |
| WTI | 2026-03-06 | [Iran conflict boosts US Gulf oil prices to highest since 2020 \| Reuters](https://feedsoft.ai/events/5575-iran-conflict-boosts-us-gulf-oil-prices-to-highest-since-2020-reuters.md) | +18.2% | +39.2% |
| WTI | 2018-05-09 | [Oil jumps to highest since 2014 after US quits Iran deal](https://feedsoft.ai/events/65180-oil-jumps-to-highest-since-2014-after-us-quits-iran-deal.md) | +3.5% | -6.0% |
| WTI | 2026-01-13 | [Oil rallies after Trump tells Iran protesters help is on the way](https://feedsoft.ai/events/11392-oil-rallies-after-trump-tells-iran-protesters-help-is-on-the-way.md) | +1.5% | +7.9% |
| BRENT | 2026-01-29 | [Brent Crude Settles at Highest Since July on Trump’s Iran Threat - Bloomberg](https://feedsoft.ai/events/21235-brent-crude-settles-at-highest-since-july-on-trump-s-iran-threat-bloomberg.md) | +0.9% | +1.6% |
| BRENT | 2026-03-06 | [Iran conflict boosts US Gulf oil prices to highest since 2020 \| Reuters](https://feedsoft.ai/events/5575-iran-conflict-boosts-us-gulf-oil-prices-to-highest-since-2020-reuters.md) | +16.6% | +35.6% |
| BRENT | 2018-05-09 | [Oil jumps to highest since 2014 after US quits Iran deal](https://feedsoft.ai/events/65180-oil-jumps-to-highest-since-2014-after-us-quits-iran-deal.md) | +5.6% | -0.3% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2019-06-21/oil-set-for-weekly-gain-as-mideast-tensions-simmer-after-attacks

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