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After the US midterm elections, markets priced in a greater chance of a negotiated end to the US-Iran conflict, and Brent fell about $20 per barrel to around $97 on Friday. US equities then fell sharply amid a sell-off in technology and semiconductor shares, before recovering somewhat on Friday.
Lower perceived risk of Middle East supply disruptions weighed on crude prices despite tanker attacks. The election-driven market volatility may also affect broader financial and currency conditions.
thenational.co.zaChris HarmseNov 9, 2026After 250 past bearish geopolitics events, Crude Oil (Brent) moved a median -3.1% over 5 sessions (36% higher; middle half -7.9% to +1.6%), and -5.5% 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.
