Oil prices dipped in Asian trading as investors weighed fresh diplomatic efforts on the Middle East conflict against risks of renewed U.S. strikes on Iran and attacks on Saudi energy infrastructure. Brent fell 0.8% to $114.41 per barrel, holding near six-month highs.
Crude prices remain near six-month highs due to supply risk, keeping energy and freight costs high for feed producers.
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.
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.