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Brent crude fell below $96 and was on track for a 2.4% weekly loss, while WTI was set for a 2.5% decline. Trump said Washington would keep its blockade on Iranian oil shipments alongside sanctions, reducing expectations of an immediate escalation.
Attacks on Saudi infrastructure and tanker incidents in the Gulf continued to pose supply risks.
A reduced expectation of large-scale conflict lowers the near-term risk premium in crude, which eases energy costs for feed production and transport.
economymiddleeast.comYara Abi FarrajNov 13, 2026After 250 past bearish geopolitics events, Crude Oil (Brent) moved a median -3.1% over 5 sessions (36% higher; middle half -7.9% to +1.6%), and -5.5% over 20.
After 255 past bearish geopolitics events, Crude Oil (WTI) moved a median -2.4% over 5 sessions (31% higher; middle half -7.0% to +1.7%), and -5.0% 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.
