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WTI traded near $87.50 after falling about 14% during the week, testing support at the 200-day moving average near $86. The decline followed the Democratic midterm victory, which raised hopes for an end to the Iran war, while IRGC claims of tanker fires in Hormuz limited losses.
A sharp fall in crude lowers diesel, fertilizer and freight costs over time, easing feed production expenses. The market is pricing a lower war premium, though Hormuz disruptions still support a floor.
fxstreet.comGuillermo AlcalaNov 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.
