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Energy futures rebounded from recent lows, while tanker incidents near the Strait of Hormuz and a Ukrainian drone strike on Russia’s Ust-Luga oil export facility kept geopolitical supply risks in focus. OPEC’s monthly report showed output by OPEC and its partners rising by nearly 2 million barrels per day in October, with global supply and demand otherwise little changed from October.
Supply disruptions or renewed security concerns could support crude and refined-product prices, while higher OPEC+ output and recovering export flows could limit the upside. These energy-price swings can affect feed production and freight costs.
tacenergy.comNov 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.
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 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.
