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WTI crude rebounded toward $100 as renewed Iran tensions rebuilt the war premium, with Netanyahu saying the conflict is not over and Trump calling Iran's response unacceptable. OPEC output reportedly fell 830,000 barrels per day, its sharpest drop in over 20 years.
A sharp OPEC output decline and renewed geopolitical risk tighten crude supply and lift energy and fertilizer costs. This supports vegetable oil and biofuel-linked prices for feed buyers.
fxempire.comJames HyerczykJun 1, 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.
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.
