Oil prices rose on Thursday after a WSJ report that the US is sending more troops and a third carrier group to the Middle East, with Trump expected to resume strikes on Iran in November. December Brent climbed about 4.6% to $102.58, and WTI gained about 3.1%.
Renewed US-Iran conflict risk supports crude and diesel prices, raising energy and freight costs for feed production and delivery.
After 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.
After 250 past bullish geopolitics events, ULSD / Diesel moved a median +1.7% over 5 sessions (58% higher; middle half -3.6% to +8.7%), and +0.9% 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.
Reports December Brent up about 4.6% on the WSJ story of more US troops and planned Iran strikes, indicating a geopolitical supply-risk premium.