# The Commodities Feed: Middle East tensions ease | articles | ING THINK

> ICE Brent and NYMEX WTI crude traded in a narrow range as tensions between Iran and Israel eased and both sides appeared to consider their strikes concluded. The US and Europe were preparing new sanctions against Iran, which were not expected to affect supply immediately. The Federal Reserve signalled rates may stay higher for longer.

- Date: 2024-04-23 · published 2024-04-23T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude low
- Page: https://feedsoft.ai/events/30699-the-commodities-feed-middle-east-tensions-ease-articles-ing-think
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Lower geopolitical risk premium and higher-for-longer rates weigh on energy prices, which feed into diesel and freight costs for feed producers. Sanctions could tighten supply later.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2025-10-28 | [The Commodities Feed: Sanction concerns boost diesel prices \| ING THINK](https://feedsoft.ai/events/22596-the-commodities-feed-sanction-concerns-boost-diesel-prices-ing-think.md) | -0.4% | -2.2% |
| BRENT | 2019-06-24 | [Commodities Week Ahead: Oil Glued To Trump-Iran Face Off; Gold Watches Fed \| Investing.com](https://feedsoft.ai/events/58512-commodities-week-ahead-oil-glued-to-trump-iran-face-off-gold-watches-fed.md) | +2.2% | -5.9% |
| BRENT | 2018-07-13 | [Oil rises but declines for the week as supply concerns ease](https://feedsoft.ai/events/10095-oil-rises-but-declines-for-the-week-as-supply-concerns-ease.md) | -1.4% | -2.7% |
| BRENT | 2021-11-22 | [OPEC considers lowering production to account for oil reserve releases](https://feedsoft.ai/events/43987-opec-considers-lowering-production-to-account-for-oil-reserve-releases.md) | -8.8% | -7.9% |
| BRENT | 2020-01-23 | [Opec+  to discuss all options at March meeting, Saudi energy minister says \| The National](https://feedsoft.ai/events/54973-opec-to-discuss-all-options-at-march-meeting-saudi-energy-minister-says-the.md) | -4.8% | -5.2% |
| WTI | 2025-06-12 | [Market Talk \| Biggest Rally of the Year Stalled Amid Middle East Tensions](https://feedsoft.ai/events/7759-market-talk-biggest-rally-of-the-year-stalled-amid-middle-east-tensions.md) | +10.2% | -1.9% |
| WTI | 2019-06-24 | [Commodities Week Ahead: Oil Glued To Trump-Iran Face Off; Gold Watches Fed \| Investing.com](https://feedsoft.ai/events/58512-commodities-week-ahead-oil-glued-to-trump-iran-face-off-gold-watches-fed.md) | +1.6% | -2.4% |
| WTI | 2018-07-13 | [Oil rises but declines for the week as supply concerns ease](https://feedsoft.ai/events/10095-oil-rises-but-declines-for-the-week-as-supply-concerns-ease.md) | -1.2% | -5.0% |

## Sources

- think.ing.com: https://think.ing.com/articles/the-commodities-feed-middle-east-tensions-ease/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.