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Crude and refined product futures gained on Monday after the US and Iran traded military strikes over the weekend, though prices had pulled back from earlier highs. October WTI was up $1.73 at $85.13 a barrel, and September ULSD was up 14.72 cents at $4.5039 per gallon.
The US reportedly struck rocket launchers said to be deployed to mine waters around the Strait of Hormuz.
Fighting in the Strait raises the risk of prolonged shipping disruption and tighter energy supply. Higher diesel prices increase haulage and freight costs for feed ingredients.
marketwatch.comAug 31, 2026After 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 250 past bullish geopolitics events, DIESEL moved a median +1.7% over 5 sessions (58% higher; middle half -3.6% to +8.7%), and +0.9% 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.
