Brent futures were reported above $100 a barrel as oil prices moved further from recent multi-week lows. The report cited continuing Middle East tensions and tanker attacks following the US midterm elections.
Persistent conflict and shipping threats raise the risk of supply disruption, supporting crude prices. Higher energy costs can feed into fuel and freight expenses for feed buyers.
After 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.
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.