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Brent fell 9% on Wednesday to its lowest level since early September, and WTI dropped 8% to about $88 a barrel. The decline followed the Democratic victory in US midterm elections, which raised expectations of an end to the Iran conflict.
Lower crude reduces energy and fertilizer input costs for feed production and weakens the cost push behind grain and oilseed prices. The move reflects expectations of reduced Middle East supply risk.
washingtonpost.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.
