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WTI traded near $83.30 on Friday after rebounding from an intraday low below $80, with tanker traffic through Hormuz recovering to roughly 30-35% of pre-conflict levels. An EIA report showed a larger-than-expected drop in US crude inventories.
Partial Hormuz recovery is easing supply fears, but tight US inventories and ongoing Middle East risk premium limit downside for energy-linked feed and freight costs.
fxstreet.comGhiles GuezoutJul 31, 2026After 60 past neutral geopolitics events, Crude Oil (WTI) moved a median -0.9% over 5 sessions (43% higher; middle half -4.7% to +2.3%), and -1.9% 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.
