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Trump said he had called off retaliatory air strikes on Iran to spare lives and sent a message through Oman proposing talks. Iranian officials said Supreme Leader Khamenei would decide on the message, and warned that any attack would have regional and international consequences.
Reduced near-term risk of a U.S.-Iran military clash eases the geopolitical premium in crude, which can pull energy and freight costs lower for feed buyers. Any breakdown in talks could quickly reverse the move.
reuters.comJeff MasonJun 22, 2019After 255 past bearish geopolitics events, WTI moved a median -2.4% over 5 sessions (31% higher; middle half -7.0% to +1.7%), and -5.0% over 20.
After 250 past bearish geopolitics events, BRENT moved a median -3.1% over 5 sessions (36% higher; middle half -7.9% to +1.6%), and -5.5% 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.
