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Brent futures were nearly unchanged and WTI futures edged higher after Trump said fresh attacks on Iran were unlikely as long as negotiations progress. The report also noted his statement that a US naval blockade was in effect and cited an understanding allowing Iraqi oil exports through the Strait of Hormuz.
The prospect of fewer attacks could reduce the geopolitical premium, while uncertainty around the blockade and Gulf shipping keeps supply risk elevated. That combination is consistent with limited movement in futures.
thehindubusinessline.comBL Mangaluru BureauNov 9, 2026After 63 past neutral geopolitics events, Crude Oil (Brent) moved a median -0.5% over 5 sessions (44% higher; middle half -4.4% to +2.6%), and -2.7% over 20.
After 60 past neutral geopolitics events, Crude Oil (WTI) moved a median -0.9% over 5 sessions (43% higher; middle half -4.7% to +2.3%), and -1.9% 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.
