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Brent crude fell toward $97 per barrel on Monday after dropping more than 16% the previous week, while WTI traded around $91. Hopes for a diplomatic resolution to the US-Iran conflict eased concerns about supply disruptions, although conflicting signals from US officials kept uncertainty in the market.
Reduced perceived risk of disruption to Middle Eastern oil supplies is weighing on crude prices. A breakdown in diplomacy or renewed escalation could reverse some of the decline.
nairametrics.comSamson AkintaroNov 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.
