Oil prices fall more than 7 percent amid anticipation of efforts to end the U.S. war with Iran and the fallout from congressional elections Brent crude fell more than 7 percent to $96.39 a barrel, below $100 for the first time since late August. US West Texas Intermediate crude fell 6.6% to $89.79 per barrel. Markets follow Qatari mediation between Washington and Tehran regarding the end of the war and the reopening of the Strait of Hormuz. The decline coincides with the victory of Democrats in the majority in both chambers of Congress, amid expectations of the impact of the results on Trump's Iran policy.

Oil prices fall more than 7 percent amid anticipation of efforts to end the U.S. war with Iran and the fallout from congressional elections Brent crude fell more than 7 percent to $96.39 a barrel, below $100 for the first time since late August. US West Texas Intermediate crude fell 6.6% to $89.79 per barrel. Markets follow Qatari mediation between Washington and Tehran regarding the end of the war and the reopening of the Strait of Hormuz. The decline coincides with the victory of Democrats in the majority in both chambers of Congress, amid expectations of the impact of the results on Trump's Iran policy.