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Oil prices rose slightly on Tuesday morning after a more than 7% fall on Monday, and were roughly unchanged from the Oslo close. US forces reportedly struck Qeshm Island as part of a multi-week campaign of smaller attacks, while both sides signalled willingness to keep talking.
The strikes added some risk premium back to crude, but without physical supply disruption the gains are likely to be limited. Feed buyers should watch for any damage to shipping or energy infrastructure that would sustain higher freight and diesel costs.
finansavisen.noRedaksjonenNov 3, 2026After 63 past neutral geopolitics events, BRENT moved a median -0.5% over 5 sessions (44% higher; middle half -4.4% to +2.6%), and -2.7% over 20.
After 60 past neutral geopolitics events, WTI moved a median -0.9% over 5 sessions (43% higher; middle half -4.7% to +2.3%), and -1.9% 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.
