# Oil edges down as investors await US midterm election results

> Brent futures fell 0.25% to $103.34 a barrel and WTI fell to $95.56 in early Asian trade on November 4. Traders were awaiting US midterm results and their possible effect on US-Iran and Ukraine peace talks. The US had carried out limited strikes on Iran's Qeshm island, and Qatar was stepping up mediation.

- Date: 2026-11-04 · published 2026-11-04T03:07:16.598Z
- Category: geopolitics · region Middle East · magnitude low
- Page: https://feedsoft.ai/events/78979-oil-edges-down-as-investors-await-us-midterm-election-results
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Oil prices are being driven by hopes or fears of ending the Iran war, which affects Gulf supply through Hormuz. A durable peace deal would push crude lower, while renewed strikes would support prices.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼
- USDMYR: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-05-27 | [Oil settles 5% lower as investors await updates on US-Iran peace deal talks \| Reuters](https://feedsoft.ai/events/12486-oil-settles-5-lower-as-investors-await-updates-on-us-iran-peace-deal-talks.md) | -0.2% | -26.3% |
| WTI | 2026-10-29 | [US oil prices fall as investors gauge risks to Mideast supply By Reuters](https://feedsoft.ai/events/252-us-oil-prices-fall-as-investors-gauge-risks-to-mideast-supply-by-reuters.md) | -2.3% | — |
| WTI | 2022-03-09 | [Euro surges as oil prices ease and investors embrace risk](https://feedsoft.ai/events/9523-euro-surges-as-oil-prices-ease-and-investors-embrace-risk.md) | -22.0% | -17.5% |
| WTI | 2026-03-10 | [Oil dives, settles down 11% after Trump predicts Middle East de-escalation \| Reuters](https://feedsoft.ai/events/6628-oil-dives-settles-down-11-after-trump-predicts-middle-east-de-escalation-reuters.md) | -1.3% | +20.4% |
| WTI | 2026-02-01 | [Oil settles down over 4% on US-Iran de-escalation, easing supply worries \| Reuters](https://feedsoft.ai/events/8794-oil-settles-down-over-4-on-us-iran-de-escalation-easing-supply-worries-reuters.md) | -1.6% | +9.9% |
| BRENT | 2026-05-27 | [Oil settles 5% lower as investors await updates on US-Iran peace deal talks \| Reuters](https://feedsoft.ai/events/12486-oil-settles-5-lower-as-investors-await-updates-on-us-iran-peace-deal-talks.md) | -3.9% | -24.5% |
| BRENT | 2026-10-29 | [US oil prices fall as investors gauge risks to Mideast supply By Reuters](https://feedsoft.ai/events/252-us-oil-prices-fall-as-investors-gauge-risks-to-mideast-supply-by-reuters.md) | -5.4% | — |
| BRENT | 2022-03-09 | [Euro surges as oil prices ease and investors embrace risk](https://feedsoft.ai/events/9523-euro-surges-as-oil-prices-ease-and-investors-embrace-risk.md) | -21.5% | -18.3% |

## Sources

- thesun.my: https://thesun.my/business/ringgit-edges-up-investors-await-us-midterm-results/
- business-standard.com: https://www.business-standard.com/markets/commodities/oil-prices-edge-down-as-investors-await-us-midterm-election-results-126110400110_1.html
- cnbc.com: https://www.cnbc.com/2026/11/04/oil-edges-down-as-investors-await-us-midterm-election-results.html
- investing.com: https://www.investing.com/news/commodities-news/oil-edges-down-as-investors-await-us-midterm-election-results-4997127
- malaymail.com: https://www.malaymail.com/news/money/2026/11/04/ringgit-edges-higher-as-investors-await-us-midterm-election-results-and-bnm-rate-decision/241889
- za.investing.com: https://za.investing.com/news/commodities-news/oil-edges-down-as-investors-await-us-midterm-election-results-4548021

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.