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South Korean equities plunged for a second consecutive session on November 6, triggering a circuit breaker, while the won weakened to 1,356.6 per dollar. Brent and WTI settled below $100 and fell about 13% over the week amid hopes for a diplomatic resolution to the U.S.-Iran conflict, though shipping risks in the Strait of Hormuz remained.
Lower perceived risk of conflict-related supply disruption is bearish for crude prices, while continuing threats to shipping could limit the decline. Cheaper crude may eventually ease fuel costs, but the article notes that local retail fuel prices adjust with a lag.
inside-times.comNov 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.
