
Oil jumped after the US and its allies launched airstrikes on Houthi rebels in Yemen. The strikes followed Houthi attacks on Red Sea shipping that have disrupted fuel and goods flows.
Escalation against Houthi forces raises the risk of further disruption to Red Sea shipping, supporting crude prices and freight costs.
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.
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.