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Brent crude fell to about $93 a barrel and WTI below $87, extending a weeklong decline as diplomacy raised hopes of an end to the U.S.-Israeli war with Iran. Analysts said global oil supply had moved into surplus from September, supported by increased Middle East flows and production elsewhere, while fuel use eased.
A shift to surplus supply and a lower perceived risk of disruption reduce the geopolitical premium in crude, pressuring oil prices. Cheaper crude can ease feed, fertilizer and transport costs, though the article does not identify a direct feed commodity impact.
nwaonline.comRebecca F. Elliott, Lisa Friedman The New York TimesNov 10, 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.
