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WTI crude rebounded to about $95.30 in early Asian trade on Tuesday after falling to $94.30, its lowest since October 16, in the prior session. Iran said contacts with the US to end their eight-month war were continuing through Qatari mediators, though no major breakthrough has been reached.
Oil prices are carrying war risk premiums that could unwind sharply if a deal emerges, lowering diesel and fertilizer costs for feed producers; a breakdown would reverse the decline.
fxstreet.comLallalit SrijandornNov 3, 2026
tmgm.comLallalit SrijandornNov 3, 2026After 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.
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.
After 51 past bearish geopolitics events, ULSD / Diesel moved a median -2.4% over 5 sessions (37% higher; middle half -8.2% to +3.9%), and -2.3% 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.
