Oil prices slip in early trade as investors await the results of the US midterm elections and their potential impact on peace talks in the Middle East, even after industry data showed US crude stocks unexpectedly fell last week, Reuters reports.
Brent futures fell 26 cents, or 0.25 per cent, to $103.34 a barrel by 0157 GMT. US West Texas Intermediate crude futures fell 53 cents, or 0.55pc, to $95.56.
In the previous session, Brent eased more than 1pc to its lowest level in nearly four weeks as traders weighed talks to end the wars in Ukraine and Iran.
Vote counting was underway in the US midterm elections, which will determine whether Trump’s Republican Party retains control of Congress for the rest of his second term.
Markets remained on watch for any progress in talks to end the US-Israeli war with Iran, as Qatar stepped up mediation efforts to avert an escalation of attacks after the US midterm elections.
