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Brent has fallen about 20% from a $118 peak in late October to around $94 on de-escalation hopes. Reuters data cited in the piece counts 37 attacks on ships in October, a wartime monthly high, and Trump said the US does not need a deal with Iran.
The article argues that a prolonged no-deal, no-escalation stalemate could keep prices supported near current levels.
Persistent Hormuz risk and high freight costs limit how far crude can fall, so energy input costs for feed and fertilizer producers are unlikely to ease quickly.
oilprice.comTsvetana ParaskovaNov 13, 2026After 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.
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.
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.
