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Iran's Revolutionary Guard seized the British-flagged tanker Stena Impero in the Strait of Hormuz, and a second British-operated tanker turned toward Iran. Brent rose 66 cents to $62.59 while WTI settled up 0.6% at $55.63.
Heightened Gulf tensions add a modest geopolitical risk premium to crude, though the price reaction was small and demand concerns still dominate.
cnbc.comReutersJul 19, 2019After 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.
