# Diesel, crude give up most of their gains since attack on Israel - FreightWaves

> Brent crude settled at $87.45 on Monday, well below its $92.38 peak on Oct. 19 and only a few dollars above its $84.58 level before the Hamas attack on Israel. The DOE/EIA retail diesel price fell 9.1 cents to $4.454 a gallon, slightly below its pre-attack level.

- Date: 2023-10-31 · published 2023-10-31T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/33820-diesel-crude-give-up-most-of-their-gains-since-attack-on-israel-freightwaves
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

The geopolitical risk premium in crude and diesel has largely unwound, lowering fuel surcharges and on-farm and freight costs for feed buyers. Further declines would ease transport costs, though renewed Mideast escalation could reverse the trend.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼
- DIESEL: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2023-10-31 | 1 | -3.7% | -3.1 | Describes crude and diesel giving back most of the post-attack risk premium around Oct 30-31, consistent with a geopolitical premium unwind driving the decline. |

## Sources

- freightwaves.com: https://www.freightwaves.com/news/what-war-diesel-crude-give-up-most-of-their-gains-since-attack-on-israel

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