# Oil Crashes 9% as Trump and Vance Blame Iran War for Midterm Rout

> Brent fell about 8.6% to $94.66 and WTI about 8.3% to $88.08 after the White House tied the midterm losses to the Iran conflict. Trump and Vance both pointed to the war, and Trump said there were no immediate plans to strike Iran, while Houthi claims of attacks on Riyadh went unconfirmed by Saudi authorities.

- Date: 2026-11-04 · published 2026-11-05T00:07:56.672Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/80648-oil-crashes-9-as-trump-and-vance-blame-iran-war-for-midterm-rout
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The sell-off reflects markets pricing a faster end to the Iran war, which would ease energy and fertiliser cost pressure on feed supply chains. Renewed attacks or Houthi action on Saudi infrastructure could quickly reverse the move.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2026-03-10 | [Oil prices dive as Trump says Iran war will end ‘very soon’ \| CNN Business](https://feedsoft.ai/events/6630-oil-prices-dive-as-trump-says-iran-war-will-end-very-soon-cnn-business.md) | +4.1% | +27.2% |
| BRENT | 2026-03-10 | [Oil and gas prices fall after Trump says war is 'very complete' - BBC News](https://feedsoft.ai/events/9387-oil-and-gas-prices-fall-after-trump-says-war-is-very-complete-bbc-news.md) | +4.1% | +27.2% |
| BRENT | 2026-04-01 | [Grain, Oilseed Prices Fall as Traders Look for End to Iran War - Bloomberg](https://feedsoft.ai/events/19762-grain-oilseed-prices-fall-as-traders-look-for-end-to-iran-war-bloomberg.md) | -12.2% | -1.1% |
| BRENT | 2026-05-06 | [Brent Crude Price: Oil and gas plunge after report US and Iran near deal to end war](https://feedsoft.ai/events/9582-brent-crude-price-oil-and-gas-plunge-after-report-us-and-iran-near-deal-to-end.md) | -2.3% | -11.1% |
| BRENT | 2025-09-19 | [Crude oil trades lower as Trump pledges support for post-war peace between Russia and Ukraine - The HinduBusinessLine](https://feedsoft.ai/events/22974-crude-oil-trades-lower-as-trump-pledges-support-for-post-war-peace-between.md) | +3.4% | -9.7% |
| WTI | 2026-03-10 | [Oil prices dive as Trump says Iran war will end ‘very soon’ \| CNN Business](https://feedsoft.ai/events/6630-oil-prices-dive-as-trump-says-iran-war-will-end-very-soon-cnn-business.md) | -1.3% | +20.4% |
| WTI | 2026-03-10 | [Oil and gas prices fall after Trump says war is 'very complete' - BBC News](https://feedsoft.ai/events/9387-oil-and-gas-prices-fall-after-trump-says-war-is-very-complete-bbc-news.md) | -1.3% | +20.4% |
| WTI | 2026-04-01 | [Grain, Oilseed Prices Fall as Traders Look for End to Iran War - Bloomberg](https://feedsoft.ai/events/19762-grain-oilseed-prices-fall-as-traders-look-for-end-to-iran-war-bloomberg.md) | -6.6% | +6.7% |

## Sources

- oilprice.com: https://oilprice.com/Latest-Energy-News/World-News/Oil-Crashes-9-as-Trump-and-Vance-Blame-Iran-War-for-Midterm-Rout.html

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