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Iraq and the United States reached an understanding to resume Iraqi crude shipments through a shipping lane near Oman in the Strait of Hormuz. The article says Gulf crude flows recovered to 16.6 million barrels per day in October and that the increased supply has helped bring Brent down to about $97 per barrel.
Restored Iraqi exports and recovering Gulf flows add supply to the global market, easing scarcity and the crude war premium. This is bearish for crude prices, although the article notes OPEC+ may weigh the returning supply in its next policy decision.
ainvest.comCyrus ColeNov 9, 2026After 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.
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.
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.
