Oil prices climb 2% to five-week high on Russia, Iran supply worries

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.

• May 17, 2026Oil prices rise 3% to two-week high on Iran war supply concerns | Reuters-8.1%
• Jan 12, 2026Oil prices settle at 7-week high on worries about Iran exports | Reuters+0.7%
• Nov 21, 2024Oil rises 2% on supply worries as Russia-Ukraine war escalates-0.3%
• Mar 19, 2024Oil rises to multi-month highs on Russian supply concerns-1.3%
• Aug 29, 2022Oil prices climb on OPEC supply cut prospect, rise in demand-6.7%

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.

• May 17, 2026Oil prices rise 3% to two-week high on Iran war supply concerns | Reuters-5.7%
• Jan 12, 2026Oil prices settle at 7-week high on worries about Iran exports | Reuters+2.0%
• Nov 21, 2024Oil rises 2% on supply worries as Russia-Ukraine war escalates-0.3%
• Mar 19, 2024Oil rises to multi-month highs on Russian supply concerns-0.2%
• Aug 29, 2022Oil prices climb on OPEC supply cut prospect, rise in demand-7.9%