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Brent settled at $94.60 on November 4, down 8.7% on the day and 19.6% over three sessions, its steepest three-day drop since April 2020. WTI settled near $88.12, down 8.3%, as markets priced in expectations of a US-Iran end-of-war agreement after the Democratic midterm victory.
The sharp drop reflects a shift in war-premium expectations that lowers energy and freight costs for feed buyers, but the market remains exposed to headline reversals if talks falter.
asiae.co.krCha MinyoungNov 4, 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.
