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Brent and WTI edged higher late Friday amid concern that the United States could resume military strikes on Iran, though both benchmarks posted steep weekly losses. Asian spot LNG prices eased to $31.40/MMBtu for December delivery from $32.50 the prior week, but remained near a four-year high amid winter competition between Europe and Asia.
Persistent competition for LNG cargoes ahead of winter can keep gas prices elevated despite the weekly retreat, while the report’s crude oversupply assessment points to weaker oil pricing pressure overall.
marhaba.qaSarah PalmerNov 8, 2026After 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.
After 136 past bullish geopolitics events, Natural Gas moved a median +2.7% over 5 sessions (63% higher; middle half -1.8% to +8.8%), and +4.0% 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.
