
Oil prices jumped more than $1 a barrel on Thursday, closing the month higher. Traders cited expectations that OPEC+ would keep its production cuts, ongoing attacks on Russia's energy infrastructure, and a falling U.S. rig count.
Expected tighter supply lifts crude prices, which raises energy and freight costs for feed producers and pushes up input costs across the feed chain.
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.
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.
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.