# Commodities weekly: Election shock triggers broad selloff, with precious metals the exception

> A sweeping Democratic victory in the US midterm elections prompted a broad reassessment of political and economic risks, and commodities recorded their largest weekly setback since April 2025. Oil fell nearly 14% as markets anticipated a possible US-Iran deal, while shipping disruptions and refined-fuel shortages persisted; the article also notes that elevated food prices and a strengthening El Niño pose agricultural inflation risks.

- Date: 2026-11-06 · published 2026-11-06T15:16:10.243Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/84223-commodities-weekly-election-shock-triggers-broad-selloff-with-precious-metals
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Lower expected geopolitical risk and weaker energy demand expectations pressured crude prices, while shipping disruption and fuel shortages could limit the downside. El Niño-related crop risks may tighten agricultural supply and support food prices.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2025-04-04 | [Commodities weekly: Tariff-led recession pain triggers sharp reversal \| Saxo Bank Switzerland](https://feedsoft.ai/events/25046-commodities-weekly-tariff-led-recession-pain-triggers-sharp-reversal-saxo-bank.md) | -10.2% | -12.0% |
| WTI | 2026-02-02 | [Metals, crude oil dive in broad commodities market tumble \| Reuters](https://feedsoft.ai/events/8795-metals-crude-oil-dive-in-broad-commodities-market-tumble-reuters.md) | -1.6% | +9.9% |
| WTI | 2024-11-06 | [Metals sell off after US election Trump win while oil, agriculture recoup some losses \| Reuters](https://feedsoft.ai/events/10549-metals-sell-off-after-us-election-trump-win-while-oil-agriculture-recoup-some.md) | -5.3% | -4.8% |
| WTI | 2023-04-21 | [Commodity Weekly: April losses led by grains and industrial metals \| Saxo](https://feedsoft.ai/events/10364-commodity-weekly-april-losses-led-by-grains-and-industrial-metals-saxo.md) | -3.2% | -7.0% |
| WTI | 2022-07-07 | [The recent commodity sell-off](https://feedsoft.ai/events/5055-the-recent-commodity-sell-off.md) | -2.0% | -7.4% |
| BRENT | 2025-04-04 | [Commodities weekly: Tariff-led recession pain triggers sharp reversal \| Saxo Bank Switzerland](https://feedsoft.ai/events/25046-commodities-weekly-tariff-led-recession-pain-triggers-sharp-reversal-saxo-bank.md) | -9.8% | -13.9% |
| BRENT | 2026-02-02 | [Metals, crude oil dive in broad commodities market tumble \| Reuters](https://feedsoft.ai/events/8795-metals-crude-oil-dive-in-broad-commodities-market-tumble-reuters.md) | -3.1% | +0.6% |
| BRENT | 2024-12-20 | [The Commodities Feed: Stronger USD prompts oil sell-off \| articles \| ING THINK](https://feedsoft.ai/events/26895-the-commodities-feed-stronger-usd-prompts-oil-sell-off-articles-ing-think.md) | +0.9% | +10.8% |

## Sources

- home.saxo: https://www.home.saxo/en-ch/content/articles/commodities/commodities-weekly-election-shock-triggers-broad-selloff-with-precious-metals-the-exception-06112026

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.