# Oil prices drop below $100 for first time in nearly a month

> 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.

- Date: 2026-11-04 · published 2026-11-04T18:08:13.991Z
- Category: market · region Global · magnitude medium
- Page: https://feedsoft.ai/events/80059-oil-prices-drop-below-100-for-first-time-in-nearly-a-month
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

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.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼
- DIESEL: bearish ▼

## Sources

- nbcnews.com: https://www.nbcnews.com/business/energy/oil-prices-iran-war-midterms-rcna607448

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.