Brent crude futures for January delivery fell 3.14% to $109.87 a barrel on the ICE, and WTI for December fell 3.33% to $100.65 on NYMEX. The move was reported in early trading on Monday, November 2, 2026.
The page also listed news on Netanyahu pressing Trump to strike Iran after the midterms.
The price drop reflects easing near-term supply fears, which lowers energy input costs for feed. Pressure for a strike after the midterms could quickly reverse the decline.
After 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.