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Brent settled up $1.27 at $92.76 and WTI rose 49 cents to $86.53 after Iran said no enriched nuclear material would leave the country. Attacks on 37 ships in October were the highest monthly total since the war began in February.
Prices had lifted off two-month lows set the prior session.
Shipping attacks in the Strait of Hormuz keep crude and freight risk elevated, which raises energy and fertilizer costs for feed producers. Even a political deal would not quickly normalize shipping flows.
thestar.com.myThe Star OnlineNov 12, 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.
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.
