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European Brent crude fell below $100 per barrel on Wednesday for the first time since October 7, dropping nearly $9 or over 8%. US WTI also slipped about 8% to roughly $89 as diesel futures hit their lowest since August.
The moves followed hopes that US midterm results would push the administration to end the Iran war without major escalation.
Lower crude and diesel prices reduce the energy and freight cost burden on feed production and transport, easing pressure on feed ingredient prices. The drop also signals fading war-premium risk, which tends to weigh on energy-linked commodities and related inputs.
nbcnews.comSteve KopackNov 4, 2026Not enough comparable past events yet for a historical read.
Not 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.
