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China and Oman called for the immediate restoration of normal and safe navigation through the Strait of Hormuz, according to a joint statement after talks between Oman's foreign minister and Chinese President Xi Jinping. The statement also referred to the US-Israeli military operation against Iran that began on February 28.
The article notes that the US has resumed large-scale strikes on Iran.
Hormuz remains largely blocked, which keeps crude, LNG and fertilizer supply tight and supports energy and feed input costs. A reopening would ease these pressures.
ain.azДругой 02.11.2026 ◦Nov 2, 2026After 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.
After 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 136 past bullish geopolitics events, Natural Gas moved a median +2.7% over 5 sessions (63% higher; middle half -1.8% to +8.8%), and +4.0% over 20.
After 205 past bullish geopolitics events, Urea moved a median +0.4% over 5 sessions (53% higher; middle half -2.1% to +3.0%), and -0.4% 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.
