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NYMEX WTI for December delivery settled at $104.12 a barrel, up about 2% on the day. The contract rose around 15% over October, its largest monthly gain since July, on fears of escalation in the Iran conflict.
It has now advanced for four straight weeks.
Higher crude raises diesel and freight costs for grain and feed logistics and supports biofuel feedstock demand, which tends to lift vegetable oil and grain prices.
dtnpf.comOct 30, 2026After 626 past bullish geopolitics events, Crude Oil (WTI) moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% 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.
