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Brent and WTI prices fell as U.S. President Donald Trump played down the prospect of new strikes on Iran, easing concerns about potential Middle Eastern supply disruptions. The decline also came amid survey findings that OPEC production increased in October, while risks to shipping through the Strait of Hormuz remained.
Reduced geopolitical risk lowers the risk premium in crude prices, while higher OPEC output adds supply; both factors put downward pressure on oil markets.
voiceofemirates.comAli RagabNov 10, 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.
