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Brent rose 4.2% to settle above $112 a barrel after erasing an early loss, while WTI settled above $99. Trump pushed back a deadline for strikes on Iranian energy infrastructure.
A delayed strike deadline reduces the immediate threat to Gulf energy output, but prices remain near record levels, which keeps biofuel and freight costs elevated for feed markets.
bloomberg.comPaul Burkhardt, Mia GindisMar 26, 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.
