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Brent traded near $99 a barrel on Friday, up about 1.3% on the day but down roughly 11% over the week; US crude also rose on the day while remaining lower for the week. Optimism about a possible end to the US-Iran conflict pressured prices, while uncertainty over negotiations and Strait of Hormuz shipping risks supported a recovery.
Lower perceived risk of conflict easing would reduce the risk premium in crude, while continued threats to shipping could constrain supply and cushion prices. The weekly move points lower, although supply concerns are limiting the decline.
zeebiz.comAnubhav MauryaNov 6, 2026After 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 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.
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.
