# Brent crude plunges 10% after Trump midterm rebuke

> Brent crude fell about 10% over 24 hours to below $94 a barrel in early Thursday trading, breaking below $100. The drop followed Republican losses in the US midterm elections, which raised hopes for de-escalation in the Iran war.

- Date: 2026-11-05 · published 2026-11-05T03:10:59.203Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/81047-brent-crude-plunges-10-after-trump-midterm-rebuke
- 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 expectations ease diesel and energy costs for feed producers and farm transport, and could reduce input cost pressure on feed grains and oilseed processing margins. The move is driven by a shift in geopolitical risk expectations rather than a physical supply change, so it may reverse if Iran tensions re-escalate.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2020-04-27 | [U.S. oil plunges 25%, Brent falls below $20 a barrel \| Reuters](https://feedsoft.ai/events/53810-u-s-oil-plunges-25-brent-falls-below-20-a-barrel-reuters.md) | +19.9% | +86.8% |
| BRENT | 2024-09-18 | [Crude oil prices today: WTI, Brent lower as Fed cuts rates](https://feedsoft.ai/events/28216-crude-oil-prices-today-wti-brent-lower-as-fed-cuts-rates.md) | +1.5% | -0.2% |
| BRENT | 2020-04-21 | [Brent oil futures plunge as growing glut feeds market panic](https://feedsoft.ai/events/4477-brent-oil-futures-plunge-as-growing-glut-feeds-market-panic.md) | -17.3% | +61.6% |
| BRENT | 2020-03-17 | [Brent crude sinks below $30 a barrel as recession fears weigh](https://feedsoft.ai/events/7658-brent-crude-sinks-below-30-a-barrel-as-recession-fears-weigh.md) | -12.6% | -12.5% |
| BRENT | 2022-07-06 | [Oil’s Current Plunge: Goodbye Inflation Trade, Hello Recession](https://feedsoft.ai/events/12614-oil-s-current-plunge-goodbye-inflation-trade-hello-recession.md) | -3.2% | -2.9% |
| WTI | 2020-04-27 | [U.S. oil plunges 25%, Brent falls below $20 a barrel \| Reuters](https://feedsoft.ai/events/53810-u-s-oil-plunges-25-brent-falls-below-20-a-barrel-reuters.md) | +21.1% | +105.0% |
| WTI | 2024-09-18 | [Crude oil prices today: WTI, Brent lower as Fed cuts rates](https://feedsoft.ai/events/28216-crude-oil-prices-today-wti-brent-lower-as-fed-cuts-rates.md) | +0.3% | -1.2% |
| WTI | 2020-03-17 | [Brent crude sinks below $30 a barrel as recession fears weigh](https://feedsoft.ai/events/7658-brent-crude-sinks-below-30-a-barrel-as-recession-fears-weigh.md) | -19.2% | -30.3% |

## Sources

- moneyweb.co.za: https://www.moneyweb.co.za/mineweb/energy/brent-crude-plunges-10-after-trump-midterm-rebuke/

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