
WTI traded near $86 a barrel and Brent closed near $92.16 after a sharp November decline. Bloomberg reported Saudi Arabia's October output rose 26% to one of its highest monthly levels in years.
Middle East shipping remains disrupted.
Stabilizing crude after a steep fall reduces pressure on diesel and fertilizer input costs for feed producers. Gulf supply recovery caps upside, while Middle East shipping constraints limit downside.
After 60 past neutral geopolitics events, Crude Oil (WTI) moved a median -0.9% over 5 sessions (43% higher; middle half -4.7% to +2.3%), and -1.9% over 20.
After 63 past neutral geopolitics events, Crude Oil (Brent) moved a median -0.5% over 5 sessions (44% higher; middle half -4.4% to +2.6%), and -2.7% 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.