# Oil prices set for weekly drop on Trump’s election rout

> Oil prices fell on Friday and Brent and WTI were each on track for weekly losses of about 12%. Markets interpreted the Republican losses in the US midterm elections as increasing the chances of de-escalation in the Iran war, although Middle East supply concerns persisted.

- Date: 2026-11-06 · published 2026-11-06T12:08:34.500Z
- Category: geopolitics · region Global · magnitude low
- Page: https://feedsoft.ai/events/83808-oil-prices-set-for-weekly-drop-on-trump-s-election-rout
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The prospect of reduced conflict-related risk could allow more crude exports from the region, weighing on oil prices. Continuing supply threats could limit the decline.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2026-04-10 | [Dollar set for weekly drop ahead of US-Iran peace talks](https://feedsoft.ai/events/11159-dollar-set-for-weekly-drop-ahead-of-us-iran-peace-talks.md) | +0.8% | -5.5% |
| BRENT | 2026-04-08 | [Oil prices plunge on Trump's US-Iran ceasefire post](https://feedsoft.ai/events/6900-oil-prices-plunge-on-trump-s-us-iran-ceasefire-post.md) | -13.7% | -8.7% |
| BRENT | 2020-10-01 | [Oil prices drop as Trump announces positive test for coronavirus; yen strengthens against dollar](https://feedsoft.ai/events/50869-oil-prices-drop-as-trump-announces-positive-test-for-coronavirus-yen.md) | +1.7% | -5.3% |
| BRENT | 2026-03-08 | [Oil prices fall as Trump weighs taking over Strait of Hormuz](https://feedsoft.ai/events/6633-oil-prices-fall-as-trump-weighs-taking-over-strait-of-hormuz.md) | +9.5% | +25.6% |
| BRENT | 2026-03-23 | [Oil prices slide as Trump’s Hormuz ultimatum keep markets on edge](https://feedsoft.ai/events/11449-oil-prices-slide-as-trump-s-hormuz-ultimatum-keep-markets-on-edge.md) | +1.5% | -13.8% |
| WTI | 2026-04-10 | [Dollar set for weekly drop ahead of US-Iran peace talks](https://feedsoft.ai/events/11159-dollar-set-for-weekly-drop-ahead-of-us-iran-peace-talks.md) | -3.2% | -1.9% |
| WTI | 2026-04-08 | [Oil prices plunge on Trump's US-Iran ceasefire post](https://feedsoft.ai/events/6900-oil-prices-plunge-on-trump-s-us-iran-ceasefire-post.md) | -18.9% | -8.3% |
| WTI | 2020-10-01 | [Oil prices drop as Trump announces positive test for coronavirus; yen strengthens against dollar](https://feedsoft.ai/events/50869-oil-prices-drop-as-trump-announces-positive-test-for-coronavirus-yen.md) | -0.6% | -7.0% |

## Sources

- thenationalnews.com: https://www.thenationalnews.com/business/energy/2026/11/06/oil-prices-set-for-weekly-drop-on-trumps-election-rout/

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