# Markets Priced Two Elections Before Anyone Took Office

> After US midterm voting and South African local elections, markets swung sharply as investors reassessed political outcomes and their potential implications. US stocks initially rallied and the rand gained more than 1%, before US equities reversed; oil also fell amid hopes of reduced escalation in the Iran conflict.

- Date: 2026-11-06 · published 2026-11-07T00:13:41.595Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/85074-markets-priced-two-elections-before-anyone-took-office
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The election-driven shift in risk sentiment and lower geopolitical risk expectations weighed on oil, potentially easing energy and freight costs for feed supply chains. Rand appreciation can also reduce the local-currency cost of imported commodities for South African buyers.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2020-04-26 | [Oil price crash, COVID-19 weaken grains and oilseed markets](https://feedsoft.ai/events/53733-oil-price-crash-covid-19-weaken-grains-and-oilseed-markets.md) | +19.9% | +86.8% |
| BRENT | 2022-04-25 | [Oil Price: Crude Down on China COVID Lockdowns and Fed Rate Outlook - Markets Insider](https://feedsoft.ai/events/42016-oil-price-crude-down-on-china-covid-lockdowns-and-fed-rate-outlook-markets.md) | +2.8% | +6.8% |
| BRENT | 2020-03-11 | [Ag Markets Feel Pinch As Oil Prices Plunge - ProAg](https://feedsoft.ai/events/54223-ag-markets-feel-pinch-as-oil-prices-plunge-proag.md) | -22.1% | -27.1% |
| BRENT | 2021-08-19 | [Falling oil prices increase pressure on oilseed markets](https://feedsoft.ai/events/11363-falling-oil-prices-increase-pressure-on-oilseed-markets.md) | +5.5% | +9.8% |
| BRENT | 2020-03-27 | [Oil price crash: a glimpse into the future for global energy markets? Q&A with Pierre Noel](https://feedsoft.ai/events/7880-oil-price-crash-a-glimpse-into-the-future-for-global-energy-markets-q-and-a.md) | -1.2% | -25.9% |
| WTI | 2020-04-26 | [Oil price crash, COVID-19 weaken grains and oilseed markets](https://feedsoft.ai/events/53733-oil-price-crash-covid-19-weaken-grains-and-oilseed-markets.md) | +21.1% | +105.0% |
| WTI | 2022-04-25 | [Oil Price: Crude Down on China COVID Lockdowns and Fed Rate Outlook - Markets Insider](https://feedsoft.ai/events/42016-oil-price-crude-down-on-china-covid-lockdowns-and-fed-rate-outlook-markets.md) | +2.0% | +10.0% |
| WTI | 2020-03-11 | [Ag Markets Feel Pinch As Oil Prices Plunge - ProAg](https://feedsoft.ai/events/54223-ag-markets-feel-pinch-as-oil-prices-plunge-proag.md) | -21.7% | -31.5% |

## Sources

- zarmarkettrends.com: https://www.zarmarkettrends.com/newsletter/markets-priced-two-elections-before-anyone-took-office

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