# Oil Extends Losses After US Midterm Results Raise Hopes Of Iran Deal

> Oil prices fell for a fourth straight session after US midterm results raised the possibility of less military escalation in the US-Israeli war on Iran. Brent declined to $93.65 and WTI to $86.98. Two Gulf-linked sources said a full-scale assault on Iran looks less likely.

- Date: 2026-11-05 · published 2026-11-05T03:07:45.946Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/80992-oil-extends-losses-after-us-midterm-results-raise-hopes-of-iran-deal
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Lower escalation expectations reduce the crude risk premium, which eases energy costs for feed production. Supply through Hormuz remains constrained, so a sharp rebound is possible if talks fail.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2026-04-17 | [Oil settles down 9% after Iran declares Strait of Hormuz open \| Reuters](https://feedsoft.ai/events/8807-oil-settles-down-9-after-iran-declares-strait-of-hormuz-open-reuters.md) | +1.3% | +0.6% |
| BRENT | 2026-03-27 | [Crude oil futures decline as US extends Iran peace deal deadline - The HinduBusinessLine](https://feedsoft.ai/events/20283-crude-oil-futures-decline-as-us-extends-iran-peace-deal-deadline-the.md) | +6.6% | -1.9% |
| BRENT | 2018-07-12 | [Oil extends losses despite IEA warning of spare capacity limits](https://feedsoft.ai/events/10096-oil-extends-losses-despite-iea-warning-of-spare-capacity-limits.md) | -3.6% | -3.9% |
| BRENT | 2026-07-01 | [Rupiah rises after US-Iran deal, market now focuses on domestic fiscal](https://feedsoft.ai/events/19107-rupiah-rises-after-us-iran-deal-market-now-focuses-on-domestic-fiscal.md) | +1.1% | +42.2% |
| 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% |
| WTI | 2026-04-17 | [Oil settles down 9% after Iran declares Strait of Hormuz open \| Reuters](https://feedsoft.ai/events/8807-oil-settles-down-9-after-iran-declares-strait-of-hormuz-open-reuters.md) | +2.3% | +7.9% |
| WTI | 2026-03-27 | [Crude oil futures decline as US extends Iran peace deal deadline - The HinduBusinessLine](https://feedsoft.ai/events/20283-crude-oil-futures-decline-as-us-extends-iran-peace-deal-deadline-the.md) | +17.8% | +1.5% |
| WTI | 2018-07-12 | [Oil extends losses despite IEA warning of spare capacity limits](https://feedsoft.ai/events/10096-oil-extends-losses-despite-iea-warning-of-spare-capacity-limits.md) | -2.4% | -5.0% |

## Sources

- businesstoday.com.my: https://www.businesstoday.com.my/2026/11/05/oil-extends-losses-after-us-midterm-results-raise-hopes-of-iran-deal/

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