Oil falls more than 8% as midterms lift Iran war exit hopes
Brent settled at $94.60 and WTI at about $88.12 on Nov 4, down 8.7% and 8.3%. Investors saw the Democratic midterm gain as raising the odds of an end to the war with Iran, which would lower energy costs along the feed chain.
· Feedsoft Markets Desk
TRANSKRIPT
Oil fell more than 8% in a day. Brent settled at $94.60 a barrel on Nov 4, down 8.7%. WTI closed at about $88.12, down 8.3%.
What moved it: the US midterms. Democrats gained in the US midterm elections. Investors saw that as raising the chances of ending the US-Israeli war with Iran.
Less risk to Gulf oil supply. The market is pricing a lower chance of disruption to Gulf oil supply. That takes some risk out of crude.
Why feed buyers should care. Lower oil means lower energy costs for feed production and transport. The move is driven by politics, so watch whether it holds.
Vollständige Analyse lesen: feedsoft.ai/events/80646-oil-prices-plunge-more-than-8-on-us-democrats-landslide-victory
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