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Oil prices fell on geopolitical developments, erasing some of the previous session's gains. Brent fell 82 cents to $114.50 and WTI fell $1.04 to $101.74.
Lower crude reduces energy and biofuel costs, which weighs on vegetable oil and ethanol-linked corn demand.
spa.gov.saOct 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.
