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December Brent futures were up about 2% at $117.14 a barrel as they neared expiry. The more active January contract gained to $113.10, and WTI rose 1.9% to $103.94.
Oil is on track for a fourth monthly gain on supply risks.
Persistent supply risk keeps crude elevated, which raises energy and transport costs for feed production and supports biofuel-linked demand for oilseeds.
rte.ieOct 30, 2026After 656 past bullish geopolitics events, 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, 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.
