Loading…
Crude oil prices declined on Thursday as investors assessed renewed diplomatic contacts between US and Iranian officials aimed at preventing further Middle East escalation. US crude fell 1.28% to $101.46 per barrel and Brent fell 1.02% to $114.15.
Both benchmarks had gained over the prior week.
Diplomatic progress reduces supply-disruption fears in the Middle East, easing energy costs, though persistent shipping-route concerns limit the downside and keep energy input costs elevated for feed makers.
zeebiz.comOct 29, 2026After 250 past bearish geopolitics events, Crude Oil (Brent) moved a median -3.1% over 5 sessions (36% higher; middle half -7.9% to +1.6%), and -5.5% over 20.
After 255 past bearish geopolitics events, Crude Oil (WTI) moved a median -2.4% over 5 sessions (31% higher; middle half -7.0% to +1.7%), and -5.0% 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.
