Loading…
Brent fell more than 5% and WTI about 6% after President Donald Trump said U.S.-Iran negotiations would resume and planned strikes against Iran were suspended. The announcement eased fears that a wider conflict could disrupt Gulf oil exports, including shipments through the Strait of Hormuz.
Lower perceived risk of disruption to Gulf supply weighed on crude prices. Further price moves depend on whether negotiations reduce the risk of renewed escalation.
ilkha.comECONOMYNov 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.
