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Brent futures fell 8.67% to $94.62 per barrel and the Dow rose about 3% after Democrats' midterm election win. The live market update also covered Australian equities, gold and copper.
Lower oil prices after the election reduce energy and diesel costs for feed milling and farm logistics. The move reflects market hopes for an end to the Iran conflict rather than a change in physical supply.
abc.net.aubusiness reporter Daniel ZifferNov 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.
