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Crude oil fell for a fourth consecutive session after a roughly 9% drop on Wednesday, with Brent at $94.03 and WTI at $87.12. Republican losses in the midterms raised hopes of a negotiated settlement to the Iran conflict.
Goldman Sachs also raised its oil price forecast on risks.
Price moves are being driven by expectations of a diplomatic outcome rather than by physical supply changes. Traders should watch Goldman's higher forecast, which signals that the downside may be limited.
moneycontrol.comSarmeeli MallickNov 5, 2026Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
