Brent futures rose about 1.3% on November 5 to around $95.84 a barrel after tumbling more than 8% in the prior session. Uncertainty over the US-Israeli war with Iran and the path to a diplomatic resolution kept investors cautious ahead of the new Congress in January.
Crude price swings feed through to diesel and freight costs for feed ingredients, and the direction hinges on whether the Iran conflict de-escalates.
After 323 past bullish macro events, Crude Oil (Brent) moved a median +0.7% over 5 sessions (58% higher; middle half -2.9% to +3.7%), and +1.3% over 20.
After 105 past bullish macro events, ULSD / Diesel moved a median -0.4% over 5 sessions (45% higher; middle half -3.4% to +1.8%), and +1.2% 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.