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Crude futures traded lower on Thursday morning, with January Brent near $93.89 and December WTI near $86.95. The decline followed the Democratic midterm victory, which raised hopes of ending the West Asia war.
Reports said crude exports from the Persian Gulf are recovering, and EIA data showed US crude inventories falling.
Recovering Gulf exports add supply, while falling US inventories support prices, so the net effect depends on whether talks progress. Falling crude costs would ease energy and transport costs for feed producers.
thehindubusinessline.comBL Mangaluru BureauNov 5, 2026After 250 past bearish geopolitics events, Crude Oil (Brent) moved a median -3.1% over 5 sessions (36% higher; middle half -7.9% to +1.6%), and -5.5% over 20.
After 255 past bearish geopolitics events, Crude Oil (WTI) moved a median -2.4% over 5 sessions (31% higher; middle half -7.0% to +1.7%), and -5.0% over 20.
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.
