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Brent crude futures fell about 1% to $93.65 a barrel and WTI to $86.98 after both benchmarks dropped more than 8% in the previous session. Prices fell nearly 16% over the week as investors bet Democrats' midterm gains would limit Trump's ability to escalate the war with Iran.
Crude shipments through the Strait of Hormuz have recovered to close to pre-war levels.
Lower crude prices reduce input costs for diesel, freight and fertilizer, which eases pressure on feed production costs. The fall reflects a shrinking war risk premium, so prices could rebound quickly if talks stall.
moneycontrol.comMoneycontrol NewsNov 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.
