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Brent and WTI crude futures were heading for a second consecutive weekly decline on Friday, with Brent near $95.71 and WTI near $88.38 per barrel. Investors weighed rising OPEC output and continued threats to shipping in the Persian Gulf.
Trump said Washington no longer needed a diplomatic deal with Iran, citing control of the Strait of Hormuz.
Crude prices feed directly into diesel, ethanol and fertilizer costs for feed producers and into biofuel demand for soybean oil and corn. Falling crude weakens the energy-linked support under vegetable oils and ethanol, while renewed Hormuz risk could reverse that.
uk.advfn.comFiona CraigNov 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.
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.
