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For the week through November 6, Brent fell 13.58% to $97.75 per barrel and WTI declined 12.76% to $90.83. Expectations of a possible Washington-Tehran settlement reduced concerns about prolonged supply disruption, while renewed attacks on commercial vessels near the Strait of Hormuz limited the late-week recovery.
Lower perceived risk of supply disruption removes some of the geopolitical premium from crude prices. Attacks near a key oil shipping route could reverse that pressure if they threaten export flows.
wenewsenglish.comAfzal BajwaNov 8, 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.
