WTI drops to near $101.00 amid OPEC+ quotas, Middle East diplomacy

After 255 past bearish geopolitics events, Crude Oil (WTI) moved a median -2.4% over 5 sessions (31% higher; middle half -7.0% to +1.7%), and -5.0% over 20.

• Oct 29, 2026Brent crude falls below $115, WTI near $101 as US-Iran peace hopes offset fears of growing Middle East conflict-2.3%
• Jun 24, 2025Dollar drops on Middle East optimism, euro highest since 2021-4.6%
• Jun 23, 2025Oil prices drop 6% as Israel-Iran ceasefire reduces Middle East supply risk | Reuters-12.2%
• May 1, 2024Oil falls to 7-week low on surprise US storage build, Middle East hopes-4.3%
• Oct 29, 2026Arab News | Oil prices fall as peace hopes offset fears of growing Middle East conflict-2.3%

After 250 past bearish geopolitics events, Crude Oil (Brent) moved a median -3.1% over 5 sessions (36% higher; middle half -7.9% to +1.6%), and -5.5% over 20.

• Oct 29, 2026Brent crude falls below $115, WTI near $101 as US-Iran peace hopes offset fears of growing Middle East conflict-5.4%
• Mar 4, 2026US dollar dips from multimonth highs on Middle East optimism | Reuters+7.9%
• Mar 25, 2026Oil Drops Near $102 as Traders Weigh Outlook for US-Iran Truce | Financial Post+15.0%
• Nov 26, 2024​Brent crude oil, silver and wheat prices drop on Middle East de-escalation​ | Levels to Watch | IG International-1.8%
• Jun 23, 2025Oil prices drop 6% as Israel-Iran ceasefire reduces Middle East supply risk | Reuters-11.9%