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Oil prices rose from two-month lows as markets weighed hopes for de-escalation in the war involving Iran against renewed attacks on shipping in the Strait of Hormuz. Brent reached $92.53 a barrel and WTI $86.71; reports cited 37 ship attacks in October and a tanker struck northeast of Oman.
Attacks and uncertainty over diplomacy threaten oil flows through the Strait of Hormuz, supporting crude prices, although a diplomatic deal and increased flows could limit gains.
shafaq.comShafaaq NewsNov 11, 2026After 656 past bullish geopolitics events, Crude Oil (Brent) moved a median +1.9% over 5 sessions (63% higher; middle half -2.7% to +6.6%), and +0.7% over 20.
After 626 past bullish geopolitics events, Crude Oil (WTI) moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% 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.
