
Oil settled higher on December 10 after US officials said they seized an oil tanker off Venezuela's coast. Brent rose 27 cents to $62.21, and US crude stocks fell less than expected, per EIA data.
Concerns about immediate supply from a tanker seizure support crude prices, which can lift diesel and fertilizer costs for feed producers.
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.
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.