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Gulf crude exports averaged 24.6 million bpd in the week to October 18, above the pre-war average, according to Kpler. Brent nonetheless traded near six-month highs, above $117 at one point, and remains more than 60% above pre-war levels.
Futures are pricing in risk of renewed US-Iran hostilities and dwindling stocks, so energy input costs for feed producers stay elevated despite recovered physical flows.
aljazeera.comJohn PowerOct 30, 2026After 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 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.
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.
