
Brent settled down 5.85% at $92.57 a barrel on Monday and fell more than $7 in post-settlement trading; WTI also extended losses. Prices dropped after President Donald Trump downplayed the likelihood of renewed strikes on Iran while talks progressed, although shipping incidents near the Strait of Hormuz continued.
Lower expectations of military escalation reduce crude’s risk premium, while continued shipping incidents preserve some supply uncertainty. The crude decline may ease fuel and freight costs for feed buyers.
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.
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.