The price of Brent crude oil on Wednesday, November 4, after the US midterm elections, fell more than eight percent to around $95 per barrel.
According to the Reuters news agency, the price of Brent oil futures fell by 8.7% to 95 dollars and 15 cents per barrel. US West Texas Intermediate crude also fell by 8.3% to 88 dollars and 12 cents. Both indexes were at their lowest level since August 31.
Reuters wrote that with the Democrats taking control of the House of Representatives and the Senate, Donald Trump now stands between reaching an agreement to end the war and a more dangerous escalation of the conflicts with Iran.
Trump told the Financial Times on Tuesday that the US currently has no immediate plans to attack Iran. On Wednesday, he also acknowledged that the war with Iran played a role in the results of the midterm elections.
Meanwhile, Qatar has stepped up its mediation efforts to prevent a renewal of attacks, according to the report.