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Brent fell 2% to $112.99 and WTI fell 2.8% to $99.91 as renewed peace negotiations eased fears of supply disruption.
Lower crude weakens the energy premium behind biofuel margins, which pressures vegetable oil and corn ethanol demand.
cnbc.comOct 29, 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.
