Oil Down Again as US Election Spells Iran War Oversight
Traders priced in lower geopolitical risk as Democrats prepared to seek congressional approval for any new action against Iran.
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8 Articles
The two chambers of the US Congress, won by the Democrats, are likely to limit Donald Trump's room for manoeuvre in his war against Iran, according to analysts.
Oil Down Again as US Election Spells Iran War Oversight
Crude futures fell for a third straight session Wednesday as traders weighed the outcome of the U.S. midterm elections that led to sweeping wins for Democrats who could pose wide-ranging challenges to the Trump administration's war against Iran and other energy policies.
Oil Falls as Traders Parse Iran War Outlook After Midterms
Brent crude oil futures dropped below $100 a barrel for the first time since early October as President Donald Trump played down the prospect of Iran strikes following a decisive Democratic sweep in the US midterm elections.
The Democratic victory in the U.S. legislative elections fuels expectations of a negotiated way out of the war with Iran. Brent retreats to $102 as markets anticipate a possible change of course in Washington.
Oil prices fell by more than $3 a barrel after Democrats gained control of both houses of Congress in the US midterm elections. Markets are watching the steps the Trump administration will take to end the war with Iran and the course of diplomatic talks.
At the previous session, Brent closed at its lowest level in almost four weeks, while operators weighed negotiations to end wars in Ukraine and Iran
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