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Brent fell 8.7% to $94.62 on Wednesday, while WTI declined to about $87 after breaching $100 earlier in the period. The selloff followed optimism that the midterm result would increase pressure on Trump to negotiate with Iran.
Brent was trading at $93.70 and WTI at $87.04 at the time of reporting.
Lower oil prices ease import bills and inflation pressure for crude importers such as India, which may support demand for feed and livestock products. The price direction depends on whether the Iran talks move forward.
fortuneindia.comChitranjan KumarNov 5, 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.
