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Brent and WTI futures rose for a second consecutive session but remained on track to lose about 12% for the week. The weekly decline followed expectations that the Iran war could ease after the US midterm elections.
A lower perceived risk of conflict and disruption to oil flows has reduced the geopolitical premium in crude, easing energy input costs. The weekly losses indicate that bearish pressure outweighed the recent daily gains.
sawti.euNov 7, 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.
