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Oil prices extended their decline as traders assessed prospects for a diplomatic resolution to the US-Iran conflict. Trump said further US attacks were highly unlikely while talks progress, even as reports of attacks on ships near the Strait of Hormuz persisted.
Reduced expectations of escalation can lower the risk premium in crude, adding to downward pressure after a sharp weekly selloff. Ongoing regional hostilities and supply uncertainty limit that bearish effect.
moneycontrol.comSarmeeli MallickNov 9, 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.
