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Brent rose 2.2 per cent over the week to around $78.43 as markets focused on U.S. sanctions against Iranian crude, with petroleum-sector sanctions due November 4. Indian refiners planned to cut Iranian loadings for September and October by nearly half.
WTI traded near $69.
Looming Iranian supply losses support crude prices and energy costs for feed production and transport.
thenationalnews.comReutersSep 14, 2018After 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.
