
Brent and WTI rose more than 2% on Friday after Iranian media reported an attack on a state-owned oil tanker in the Red Sea near Saudi Arabia. Optimism over U.S.-China trade talks also supported sentiment.
A geopolitical attack on tankers raises supply risk in the Middle East, adding a modest premium to energy costs that feed into fuel and freight.
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.