# Oil rises on Iran war uncertainty after US midterms

> Oil prices rose on November 4 as investors watched the Iran war and weighed Trump's next move after Democrats won control of Congress. Brent gained 0.7% to $104.36 and WTI rose 0.7% to $96.72, after US crude stocks fell 5.27 million barrels, far more than forecast.

- Date: 2026-11-04 · published 2026-11-04T09:07:36.861Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/79466-oil-rises-on-iran-war-uncertainty-after-us-midterms
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The larger-than-expected US crude inventory draw supports prices alongside Hormuz supply risk, which lifts energy and freight costs for feed buyers. Mixed signals from Washington limit conviction, so the move is modest.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Sources

- straitstimes.com: https://www.straitstimes.com/business/oil-edges-down-as-investors-await-us-midterm-election-results

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