# Oil eases but Saudi tensions keep 2-1/2 year highs in sight

> U.S. WTI crude eased 15 cents to settle at $57.20, close to a 2.5-year high, after Brent had risen 3.5 percent the previous day. Tensions between Saudi Arabia and Iran escalated over the war in Yemen as Saudi Crown Prince Mohammed bin Salman consolidated power through arrests of royals and ministers. Analysts said the Saudi-Iran rivalry was the main driver of the market's reaction.

- Date: 2017-11-07 · published 2017-11-07T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude medium
- Page: https://feedsoft.ai/events/68168-oil-eases-but-saudi-tensions-keep-2-1-2-year-highs-in-sight
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Perceived risk of Middle East supply disruption supports crude prices near multi-year highs. Higher crude tends to lift biofuel feedstock values and diesel and transport costs for feed mills.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2016-12-12 | [Oil surges to 1 1/2-year high, Fed rate increase looms](https://feedsoft.ai/events/73621-oil-surges-to-1-1-2-year-high-fed-rate-increase-looms.md) | +0.8% | -1.3% |
| WTI | 2025-06-11 | [Oil prices jumps 4% to 2-month high as tensions rise in Middle East \| Reuters](https://feedsoft.ai/events/11156-oil-prices-jumps-4-to-2-month-high-as-tensions-rise-in-middle-east-reuters.md) | +15.2% | +5.8% |
| WTI | 2020-01-07 | [US, Iran tensions: Oil traders fear supply disruptions in Middle East](https://feedsoft.ai/events/55332-us-iran-tensions-oil-traders-fear-supply-disruptions-in-middle-east.md) | -8.1% | -21.6% |
| WTI | 2022-10-08 | [Why Did Saudi Arabia Defy Biden to Keep Oil Prices High - Bloomberg](https://feedsoft.ai/events/39060-why-did-saudi-arabia-defy-biden-to-keep-oil-prices-high-bloomberg.md) | -7.5% | -0.4% |
| WTI | 2025-12-29 | [USD/CAD slips to near 1.3650 as Oil prices gain on Middle East tensions](https://feedsoft.ai/events/21733-usd-cad-slips-to-near-1-3650-as-oil-prices-gain-on-middle-east-tensions.md) | +2.7% | +9.7% |
| BRENT | 2016-12-12 | [Oil surges to 1 1/2-year high, Fed rate increase looms](https://feedsoft.ai/events/73621-oil-surges-to-1-1-2-year-high-fed-rate-increase-looms.md) | +2.7% | +0.3% |
| BRENT | 2024-06-18 | [Oil settles over 1% higher on mounting tension in Europe, Mideast](https://feedsoft.ai/events/29927-oil-settles-over-1-higher-on-mounting-tension-in-europe-mideast.md) | +3.6% | +2.7% |
| BRENT | 2025-06-11 | [Oil prices jumps 4% to 2-month high as tensions rise in Middle East \| Reuters](https://feedsoft.ai/events/11156-oil-prices-jumps-4-to-2-month-high-as-tensions-rise-in-middle-east-reuters.md) | +14.7% | +5.4% |

## Sources

- cnbc.com: https://www.cnbc.com/2017/11/06/us-oil-prices-move-away-from-near-2-12-year-high.html

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