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The dollar opened at COP$3,232 on Tuesday, COP$50 above the official TRM of 3,182.99. US midterm elections were that day, and the market was also watching the US-Iran conflict.
WTI fell 1.05% after a drop of more than 7% in the prior session.
Dollar strength against the peso raises Colombian import costs for feed ingredients. Oil moves also feed into freight and fuel costs.
Not enough comparable past events yet for a historical read.
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.