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Brent rose above $95 after Trump said the US did not need an Iran deal and controlled Iranian funds and the strait. Brent futures settled 3.3% higher at $95.82 and WTI gained 2.6% to $88.74 on Thursday.
Iran said it would not hold direct talks until the US lifts its naval blockade and sanctions.
Stalled diplomacy keeps a risk premium in crude, supporting diesel and energy costs for feed production and transport.
ndtvprofit.comTanmay TiwaryNov 13, 2026
thestar.com.myKuai BixiaoxinNov 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.
