South African rand slips as Saudi attacks knock risk appetite

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.

• Jun 23, 2025South African rand drops to one-month low after US strikes Iran-11.9%
• Apr 23, 2026South African rand slips as investors seek clarity on stalled US-Iran peace talks | Reuters+12.6%
• Sep 16, 2019Oil surges as Saudi attack focuses market on supply risks+6.6%
• May 26, 2026South African rand slips on Iran uncertainty ahead of key central bank data | Reuters-9.0%
• Sep 14, 2026South African rand falls over 1% as oil jumps and investors await Fed meeting | CNBC Africa-0.2%

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.

• Sep 16, 2019Oil surges as Saudi attack focuses market on supply risks+5.8%
• Oct 11, 2026Oil Prices Jump 2% on Saudi Attacks as OPEC Sees Demand Rebound+7.5%
• Mar 7, 2021Oil price rises above $70 after attacks on Saudi oil facilities-0.7%
• Sep 16, 2019Oil Prices Log Historic Rally After Saudi Attack - WSJ+5.8%
• Sep 16, 2019Oil prices leap as attack on Saudi facility disrupts output | AP News+5.8%

Not enough comparable past events yet for a historical read.