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Brent settled at $98.32 a barrel and WTI at $90.83 after both benchmarks recorded steep weekly losses; Brent fell about 17% and WTI about 13%. Hopes for a US-Iran de-escalation and concerns about weak global demand and ample supply weighed on prices, while attacks on vessels and tanker-route security risks limited the decline.
Reduced geopolitical risk and ample supply put downward pressure on crude prices, while Gulf shipping threats provide some support. Lower crude prices can ease energy and transport costs for feed buyers.
alnaharegypt.comفاطمة الضوي.Nov 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.
