Oil falls on Iran war uncertainty, US Democrats' midterm sweep

Published November 4, 2026 Updated November 4, 2026 07:26pm

Oil prices are down more than $3 a barrel in volatile trading as investors await Washington’s next move in the US-Israeli war on Iran after President Donald Trump’s Republican Party lost control of Congress in midterm elections, Reuters reports.

Brent futures are down $3.20, or 3.09 per cent, to $100.40 a barrel as of 1417 GMT (7:17pm PKT). US West Texas Intermediate crude futures are down $3.01, or 3.13pc, to $93.08.

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