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Brent for June delivery jumped 6.6% to $107.82 a barrel in early European trading after Trump vowed to hit Iran extremely hard. WTI for May rose 6.1% to $106.19, and natural gas prices also gained.
A renewed escalation signals longer disruption to oil and gas supply, which raises energy input costs for feed manufacturing and grain drying.
wsj.comGiulia PetroniApr 2, 2026After 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.
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 136 past bullish geopolitics events, Natural Gas moved a median +2.7% over 5 sessions (63% higher; middle half -1.8% to +8.8%), and +4.0% 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.
