# Crude oil prices fall below $90 a barrel as Vance blames GOP election defeat on Iran war

> Crude oil fell about 9% on Wednesday after Vice President JD Vance said the Iran war cost Republicans the midterm elections. WTI traded near $87.59 and Brent near $93.91. Analysts said the election result may push Trump toward a deal with Iran.

- Date: 2026-11-04 · published 2026-11-04T18:07:58.095Z
- Category: market · region Global · magnitude medium
- Page: https://feedsoft.ai/events/80052-crude-oil-prices-fall-below-90-a-barrel-as-vance-blames-gop-election-defeat-on
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Expectations of a US-Iran settlement and reopened Hormuz flows reduce the risk premium in crude, which lowers energy-linked costs for feed production and drags on soyoil and biofuel-linked demand.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Sources

- cnbc.com: https://www.cnbc.com/2026/11/04/oil-price-iran-war-us-election-strait-hormuz.html

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