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Oil prices fell back to around $95 after the US and Iran agreed to a ceasefire on April 7. Talks to end the war then failed, and Trump imposed a blockade on ships entering Iranian ports.
The article describes how the war has disrupted oil price signals.
The blockade and failed talks keep Hormuz shipping risk elevated, supporting crude and diesel prices. Persistent volatility raises freight and input costs for feed buyers.
reuters.comRon BoussoApr 16, 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.
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.
