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Brent crude edged up about 1.6% to $96.15 a barrel and WTI rose 0.6% to $88.64 on Thursday. The move followed an 8%-plus selloff in the previous session, when both benchmarks hit their lowest since August 31.
Traders are weighing the Iran war's future after Republicans' heavy midterm losses.
Oil remains highly sensitive to whether US-Iran diplomacy progresses, and the market still prices in a risk of renewed escalation before Congress changes hands in January. This keeps energy costs elevated for feed producers, including fuel, transport and fertiliser inputs.
live.euronext.comNov 5, 2026
channelnewsasia.comNov 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.
