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WTI fell about 3.3% to near $100.69 on November 2 as US-Iran diplomatic hopes reduced supply fears. Brent dropped 3.2% to about $109.75.
The article looks ahead to the US midterm elections on November 3 and the $100 technical level.
Lower prices reflect a smaller risk premium on Gulf supply rather than any new barrels. Traders now watch the $100 support level and any renewed escalation.
mitrade.comMitrade TeamNov 2, 2026Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
