Al Jazeera: Pressure on oil prices eases after US midterm elections Brent crude oil prices fell nearly 9% in yesterday's trade after Democrats won seats in the US midterm elections, then recovered slightly. Rising gas prices and cost-of-living pressures on American households helped defeat Republicans, and Democratic control of Congress could limit Donald Trump's ability to escalate the war with Iran, market analyst Susanna Streeter said. According to him, the resumption of oil exports from the Persian Gulf region also helped lower prices. However, oil prices are still about a third above pre-war levels, and any renewed attacks or shipping disruptions in the Strait of Hormuz could raise prices again. Streeter emphasized that the market is looking into the possibility of reaching peace more than before, but there is still a fear of another spike in oil prices.

Al Jazeera: Pressure on oil prices eases after US midterm elections Brent crude oil prices fell nearly 9% in yesterday's trade after Democrats won seats in the US midterm elections, then recovered slightly. Rising gas prices and cost-of-living pressures on American households helped defeat Republicans, and Democratic control of Congress could limit Donald Trump's ability to escalate the war with Iran, market analyst Susanna Streeter said. According to him, the resumption of oil exports from the Persian Gulf region also helped lower prices. However, oil prices are still about a third above pre-war levels, and any renewed attacks or shipping disruptions in the Strait of Hormuz could raise prices again. Streeter emphasized that the market is looking into the possibility of reaching peace more than before, but there is still a fear of another spike in oil prices.