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WTI fell to $93.19 and Brent to $100.71 on Wednesday, down about 3% and 2.8% respectively, as the Iran war premium unwound. Brent has given back about 13% over eight sessions, and the API reported a 5.27-million-barrel crude draw against an expected build.
Diplomacy and Gulf supply recovery are pulling prices lower, though physical inventory draws limit the downside. Lower crude weighs on diesel and freight costs for feed buyers, with the next technical target near $98 Brent.
tradingnews.comItai SmidtNov 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.
