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WTI futures extended their selloff toward $86 a barrel in Asian trade after falling nearly 9% in the previous session. Oil has now dropped more than 15% in November, reversing October's 15% rally.
The decline followed the Democrats' midterm victory, which raised expectations of a negotiated end to the Iran war.
Lower crude weakens the cost pressure on fuel, freight and fertiliser that feeds into feed prices. The move depends on the Iran diplomacy outcome, so a failed negotiation could reverse it.
capitalmarket.comNov 5, 2026Not 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.
