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WTI recovered more than $2 from Tuesday’s lows and traded around $85.50 as traders grew more doubtful that Washington and Tehran would reach a peace agreement. Attacks on vessels in the Strait of Hormuz continued, while a reported rise in U.S. API crude stocks limited the recovery.
Renewed concern about conflict and shipping disruptions near the Strait of Hormuz supports crude prices, while higher U.S. inventories temper that pressure. Higher oil prices can lift feed, fertilizer, and transport costs.
fxstreet.comGuillermo AlcalaNov 11, 2026After 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.
