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Oil prices fell on Wednesday as markets reacted to Democrats taking control of Congress in the midterm elections. Brent dropped 1.2% to $102.36 a barrel and WTI fell 0.8% to $95.42, while the dollar weakened against major currencies.
Lower crude prices reduce diesel and freight costs and weaken the dollar, which tends to support dollar-priced grain and meal values. The move reflects political gridlock expectations rather than a change in physical supply.
iol.co.zaAFPNov 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.
