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WTI traded near $96.10 in Asian hours on November 4, extending gains for a second day after falling nearly 7% during the week. Trump said the US had no immediate plans to strike Iran, while Iran's security chief called Washington's response unsatisfactory.
Mediators had offered new peace proposals.
WTI is rebounding from a weekly low on uncertainty over the peace process, which keeps energy costs elevated for feed and fertiliser. A breakdown in talks would support prices further.
fxstreet.comAkhtar FaruquiNov 4, 2026
tmgm.comAkhtar FaruquiNov 4, 2026After 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.
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.
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.
