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Brent settled up $3.67, or 3.88%, at $98.29 per barrel on Thursday, while WTI gained $2.40 to $90.52. Reports of tanker attacks and mines in the Gulf revived concerns about oil supply reliability, with at least five vessels reporting incidents since Sunday.
Potential disruption to Gulf shipping raises the risk of delayed or reduced oil flows, supporting crude and fuel prices. Higher energy costs can add to feed production and freight expenses.
financialnewsletter.comReutersNov 5, 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 250 past bullish geopolitics events, ULSD / Diesel moved a median +1.7% over 5 sessions (58% higher; middle half -3.6% to +8.7%), and +0.9% 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.
