# Oil Price Today (November 4): Crude oil falls below $104 ahead of US midterm elections. What are analysts saying?

> Brent fell 40 cents, or 0.41%, to $103.21 a barrel and WTI dropped 67 cents to $95.42. Prices followed the prior session's drop to a nearly four-week low as traders assessed diplomatic efforts to end the wars in Ukraine and Iran.

- Date: 2026-11-04 · published 2026-11-04T03:07:16.739Z
- Category: geopolitics · region Middle East · magnitude low
- Page: https://feedsoft.ai/events/78981-oil-price-today-november-4-crude-oil-falls-below-104-ahead-of-us-midterm
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Crude is trading lower on diplomacy expectations, which eases energy and fertiliser cost pressure on feed production. The move is small and remains tied to headlines about the peace process.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2024-04-18 | [Crude oil prices today: WTI falls below $83 as war fear eases](https://feedsoft.ai/events/30929-crude-oil-prices-today-wti-falls-below-83-as-war-fear-eases.md) | +0.5% | -4.3% |
| WTI | 2026-05-20 | [Oil prices fall 5% after Trump comments while analysts point to supply crunch](https://feedsoft.ai/events/12491-oil-prices-fall-5-after-trump-comments-while-analysts-point-to-supply-crunch.md) | -17.6% | -28.3% |
| WTI | 2026-10-29 | [Brent crude falls below $115, WTI near $101 as US-Iran peace hopes offset fears of growing Middle East conflict](https://feedsoft.ai/events/254-brent-crude-falls-below-115-wti-near-101-as-us-iran-peace-hopes-offset-fears-of.md) | -2.3% | — |
| WTI | 2024-09-03 | [Crude oil prices today: WTI erases all 2024 gains](https://feedsoft.ai/events/12385-crude-oil-prices-today-wti-erases-all-2024-gains.md) | -6.6% | -7.6% |
| WTI | 2020-03-18 | [US crude falls 24%, Brent down 13% as analysts warn more to come \| Coronavirus pandemic \| Al Jazeera](https://feedsoft.ai/events/7663-us-crude-falls-24-brent-down-13-as-analysts-warn-more-to-come-coronavirus.md) | -18.5% | -26.1% |
| BRENT | 2024-04-18 | [Crude oil prices today: WTI falls below $83 as war fear eases](https://feedsoft.ai/events/30929-crude-oil-prices-today-wti-falls-below-83-as-war-fear-eases.md) | +0.1% | -8.0% |
| BRENT | 2026-05-20 | [Oil prices fall 5% after Trump comments while analysts point to supply crunch](https://feedsoft.ai/events/12491-oil-prices-fall-5-after-trump-comments-while-analysts-point-to-supply-crunch.md) | -15.3% | -29.2% |
| BRENT | 2026-10-29 | [Brent crude falls below $115, WTI near $101 as US-Iran peace hopes offset fears of growing Middle East conflict](https://feedsoft.ai/events/254-brent-crude-falls-below-115-wti-near-101-as-us-iran-peace-hopes-offset-fears-of.md) | -5.4% | — |

## Sources

- economictimes.indiatimes.com: https://economictimes.indiatimes.com/markets/commodities/news/oil-price-today-november-4-crude-oil-falls-below-104-ahead-of-us-midterm-elections-what-are-analysts-saying/articleshow/135518787.cms
- m.economictimes.com: https://m.economictimes.com/markets/commodities/news/oil-price-today-november-4-crude-oil-falls-below-104-ahead-of-us-midterm-elections-what-are-analysts-saying/amp_articleshow/135518787.cms

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