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Brent rose 0.8% to about $92 a barrel after falling 7% over the previous two sessions, while WTI remained below $87. Traders weighed prospects for an end to the US-Iran war against continued regional flare-ups and rising Persian Gulf energy shipments; trend-following funds also cut crude-oil positions sharply.
The prospect of recovering Gulf exports and a sustained reopening of the Strait of Hormuz would ease supply risk and weigh on crude prices, while further conflict could restore a risk premium.
moneyweb.co.zaKanoko Matsuyama, BloombergNov 11, 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.
