Oil prices fell on Monday after President Donald Trump said renewed US strikes on Iran were highly unlikely while negotiations continued. Attacks on shipping near the Strait of Hormuz kept supply risks in view, while elevated Middle Eastern oil flows and weak physical-market conditions weighed on prices.
Lower perceived risk of escalation supports crude supply expectations and pressures oil prices, although further attacks near Hormuz could restore a risk premium. Cheaper crude can ease energy and transport costs for feed buyers.
After 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.