◂ Event Timeline

Jun 5, 2017GEOPOLITICSMiddle East

Oil markets jump more than 1% on Qatar-GCC row

Oil rose more than 1% on June 5 after Saudi Arabia, the UAE, Egypt and Bahrain cut ties with Qatar, raising Middle East tensions. Brent traded near $50.50 as signs of falling OPEC supply also tightened the market.

WHY IT MATTERS

Gulf political tensions add a modest geopolitical risk premium, though analysts said little was priced in, so the effect on feed input costs is limited.

AFFECTSBRENT▲WTI▲

SOURCE
nst.com.myReutersJun 5, 2017

Price reaction & history

BRENT▲bullishSO FAR1d -0.7%5d -3.7%20d -3.5%

After 656 past bullish geopolitics events, BRENT moved a median +1.9% over 5 sessions (63% higher; middle half -2.7% to +6.6%), and +0.7% over 20.

Jun 13, 2025European oil product markets jump on Israel-Iran war risk+12.0%
Mar 21, 2022Crude jumps more than 7% as EU mulls Russian oil ban+9.5%
May 27, 2019Oil up more than 1% on Mideast tensions and supply cuts-9.0%
Mar 28, 2024Oil rises more than $1 a barrel on tighter supply outlook+5.8%
Dec 1, 2025Oil climbs more than 1% on OPEC action, Ukraine attack+0.7%

WTI▲bullishSO FAR1d -0.6%5d -3.9%20d -3.5%

After 626 past bullish geopolitics events, WTI moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% over 20.

Mar 21, 2022Crude jumps more than 7% as EU mulls Russian oil ban+10.3%
May 27, 2019Oil up more than 1% on Mideast tensions and supply cuts-8.5%
Mar 28, 2024Oil rises more than $1 a barrel on tighter supply outlook+6.4%
Dec 1, 2025Oil climbs more than 1% on OPEC action, Ukraine attack+2.7%
Apr 3, 2020Oil surges more than 13% on hopes of output deal-9.4%

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.

BRENT · GP ▸

——— · ·

WTI · GP ▸

——— · ·

Loading…