# Brent Crude Plunges 13% in a Week, Falling Below $100; Hedge Funds Cut Long Bets Ahead of Election

> For the week ended November 3, fund managers cut their combined net long positions in WTI and Brent by 78,492 contracts to 272,075, the largest reduction since the summer. The article links the oil sell-off and reduced bullish positioning to signals that Washington and Tehran were open to negotiations, as well as the Democrats’ election victory.

- Date: 2026-11-07 · published 2026-11-08T06:07:47.155Z
- Category: geopolitics · region Middle East · magnitude medium
- Page: https://feedsoft.ai/events/87018-brent-crude-plunges-13-in-a-week-falling-below-100-hedge-funds-cut-long-bets
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Expectations of Iran de-escalation can reduce perceived disruption risk and ease concerns about Gulf supply, pressuring crude prices. The sharp reduction in fund long positions may amplify selling, though it does not itself change physical supply or demand.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2026-10-29 | [Brent crude falls below $115, WTI near $101 as US-Iran peace hopes offset fears of growing Middle East conflict](https://feedsoft.ai/events/254-brent-crude-falls-below-115-wti-near-101-as-us-iran-peace-hopes-offset-fears-of.md) | -5.4% | — |
| BRENT | 2020-03-18 | [Brent crude futures hit 16-year low below $27.00/b \| S&P Global](https://feedsoft.ai/events/7661-brent-crude-futures-hit-16-year-low-below-27-00-b-s-and-p-global.md) | -9.0% | -17.4% |
| BRENT | 2026-03-23 | [Brent Below $100 on Oil, Fuel Swing; US Cites Iran Talks](https://feedsoft.ai/events/8540-brent-below-100-on-oil-fuel-swing-us-cites-iran-talks.md) | +1.5% | -13.8% |
| BRENT | 2024-04-18 | [Crude oil prices today: WTI falls below $83 as war fear eases](https://feedsoft.ai/events/30929-crude-oil-prices-today-wti-falls-below-83-as-war-fear-eases.md) | +0.1% | -8.0% |
| BRENT | 2018-11-13 | [US crude plunges to one-year low, extending record losing streak](https://feedsoft.ai/events/6661-us-crude-plunges-to-one-year-low-extending-record-losing-streak.md) | -6.5% | -14.1% |
| WTI | 2026-10-29 | [Brent crude falls below $115, WTI near $101 as US-Iran peace hopes offset fears of growing Middle East conflict](https://feedsoft.ai/events/254-brent-crude-falls-below-115-wti-near-101-as-us-iran-peace-hopes-offset-fears-of.md) | -2.3% | — |
| WTI | 2020-03-18 | [Brent crude futures hit 16-year low below $27.00/b \| S&P Global](https://feedsoft.ai/events/7661-brent-crude-futures-hit-16-year-low-below-27-00-b-s-and-p-global.md) | -18.5% | -26.1% |
| WTI | 2026-03-23 | [Brent Below $100 on Oil, Fuel Swing; US Cites Iran Talks](https://feedsoft.ai/events/8540-brent-below-100-on-oil-fuel-swing-us-cites-iran-talks.md) | +2.2% | -8.1% |

## Sources

- longbridge.com: https://longbridge.com/en/news/304720365

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