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Iranian attacks on Israel produced only a moderate crude reaction in early Asian trade. Brent rose as much as 50 cents to $90.95 from its April 12 close of $90.45.
A muted price response suggests limited added geopolitical premium, so energy-linked input costs for feed and biofuel markets are not shifting sharply.
reuters.comClyde RussellApr 15, 2024After 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.
