Loading…
Crude oil fell about 9% on Wednesday after Vice President JD Vance said the Iran war cost Republicans the midterm elections. WTI traded near $87.59 and Brent near $93.91.
Analysts said the election result may push Trump toward a deal with Iran.
Expectations of a US-Iran settlement and reopened Hormuz flows reduce the risk premium in crude, which lowers energy-linked costs for feed production and drags on soyoil and biofuel-linked demand.
cnbc.comSpencer Kimball, Pippa StevensNov 4, 2026Not enough comparable past events yet for a historical read.
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.
