# Oil Price Today (November 5): Crude oil falls below $94 after 9% plunge on Wednesday after midterm results. More downside ahead?

> Crude oil fell below $94 on Thursday after a roughly 9% plunge the previous session following the Democratic midterm victory. Brent was trading near $93.51 and WTI below $87. Goldman Sachs said oil could rise again if production problems persist in the Gulf.

- Date: 2026-11-05 · published 2026-11-05T03:07:45.578Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/80988-oil-price-today-november-5-crude-oil-falls-below-94-after-9-plunge-on-wednesday
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The political shift has reduced the war premium, but Goldman's warning on Gulf production means supply risk could return quickly. Energy costs for feed processors and freight remain sensitive to these swings.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2024-04-18 | [Crude oil prices today: WTI falls below $83 as war fear eases](https://feedsoft.ai/events/30929-crude-oil-prices-today-wti-falls-below-83-as-war-fear-eases.md) | +0.1% | -8.0% |
| BRENT | 2026-05-06 | [Brent Crude Price: Oil and gas plunge after report US and Iran near deal to end war](https://feedsoft.ai/events/9582-brent-crude-price-oil-and-gas-plunge-after-report-us-and-iran-near-deal-to-end.md) | -2.3% | -11.1% |
| BRENT | 2026-07-01 | [U.S. crude oil falls below $70, resuming losses after attack on cargo ship near Oman](https://feedsoft.ai/events/18993-u-s-crude-oil-falls-below-70-resuming-losses-after-attack-on-cargo-ship-near.md) | +1.8% | +18.3% |
| BRENT | 2020-04-01 | [Oil Plunges Most Since 1991 After Producers Embark on Price War](https://feedsoft.ai/events/54280-oil-plunges-most-since-1991-after-producers-embark-on-price-war.md) | +44.4% | +9.2% |
| BRENT | 2024-05-01 | [Oil falls more than $1/bbl on Middle East peace talks, US rate cut doubts](https://feedsoft.ai/events/30636-oil-falls-more-than-1-bbl-on-middle-east-peace-talks-us-rate-cut-doubts.md) | -5.8% | -6.2% |
| WTI | 2024-04-18 | [Crude oil prices today: WTI falls below $83 as war fear eases](https://feedsoft.ai/events/30929-crude-oil-prices-today-wti-falls-below-83-as-war-fear-eases.md) | +0.5% | -4.3% |
| WTI | 2026-05-06 | [Brent Crude Price: Oil and gas plunge after report US and Iran near deal to end war](https://feedsoft.ai/events/9582-brent-crude-price-oil-and-gas-plunge-after-report-us-and-iran-near-deal-to-end.md) | +0.0% | -5.8% |
| WTI | 2026-07-01 | [U.S. crude oil falls below $70, resuming losses after attack on cargo ship near Oman](https://feedsoft.ai/events/18993-u-s-crude-oil-falls-below-70-resuming-losses-after-attack-on-cargo-ship-near.md) | +1.4% | +14.5% |

## Sources

- economictimes.indiatimes.com: https://economictimes.indiatimes.com/markets/commodities/news/oil-price-today-november-5-crude-oil-falls-below-94-after-9-plunge-on-wednesday-after-midterm-results-more-downside-ahead/articleshow/135556180.cms

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