Oil tumbles as investors weigh end to Iran war after US Democrats' midterm elections sweep
- Vice President JD Vance blamed the war against Iran for Republican midterm election reversals on Wednesday, as crude oil prices tumbled amid volatile trading.
- The war, which disrupted global energy supplies for eight months, sent gasoline and diesel prices skyrocketing, making inflation worse for consumers; 59% of voters told NBC News on Tuesday they were "very concerned" with fuel costs.
- European Brent fell below $100 per barrel for the first time since October 7, translating to a nearly $9 drop, while West Texas Intermediate crude slipped 7% to about $89.
- President Donald Trump acknowledged the war's toll on consumers, saying people "really probably werent willing to do the short-term consequence of paying more for gasoline" despite supporting his Iran policy.
- Patrick De Haan, analyst at GasBuddy, noted that oil's fall could bring the national average price of gasoline below $4 in the "days ahead" as markets remain volatile awaiting diplomatic developments.
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447 Articles
Donald Trump's statement yesterday about a "low probability" resumption of strikes against Iran led to a dramatic fall in the black gold price this Tuesday, November 10.
Oil prices continued to fall on Tuesday, as investors hoped that diplomatic talks between the United States and Iran would lead to an end to the conflict in the Middle East. Brent crude fell 1.31 percent to $91.36 a barrel, while US West Texas Intermediate (WTI) futures fell 1.59 percent to $85.47 a barrel, the Telegraph reports. Both major benchmarks have lost about 20 percent of their value this month, as traders bet on a resolution to the sev…
dagelijksestandaard.nl
welingelichtekringen.nlNEW YORK (ANP/BLOOMBERG) - Oil prices fell sharply on Monday afternoon due to increasing hopes for a diplomatic solution to the war in the Middle East. This continues last week's sharp decline in oil prices. The price of Brent, crude oil from Europe and the Middle East...
One litre of E10 on a daily average for less than two euros, even diesel is getting cheaper: Hope for progress in Iran negotiations is reducing oil prices. The stock exchanges that have been bagged by the AI collapse are also recovering.
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