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Brent crude fell below $94 to a two-month low and WTI slipped to about $87 as Democrats won control of both chambers of Congress in the US midterm elections. The dollar index dropped to 101.06 and the euro rose to $1.1263, its highest since early October.
Lower crude weakens energy-linked costs for feed production, freight and fertilizer, and a softer dollar tends to support US commodity prices in dollar terms. Expectations of reduced inflation pressure also lower the odds of near-term rate hikes.
aa.com.trTuba OngunNov 5, 2026After 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% over 20.
After 312 past bearish macro events, Crude Oil (Brent) moved a median -1.7% over 5 sessions (38% higher; middle half -5.4% to +2.3%), and -1.7% over 20.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
After 388 past bullish macro events, Euro (USD per EUR) moved a median +0.3% over 5 sessions (62% higher; middle half -0.4% to +1.1%), and +0.1% 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.
