# Oil falls more than 8% as midterms lift Iran war exit hopes

Brent settled at $94.60 and WTI at about $88.12 on Nov 4, down 8.7% and 8.3%. Investors saw the Democratic midterm gain as raising the odds of an end to the war with Iran, which would lower energy costs along the feed chain.

Published 2026-11-05 by the Feedsoft Markets Desk. Covers: BRENT, WTI.

Video (34s): https://feedsoft.ai/media/social/29/facebook-9a34aa1bf7.mp4

## Transcript

- **Oil fell more than 8% in a day** Brent settled at $94.60 a barrel on Nov 4, down 8.7%. WTI closed at about $88.12, down 8.3%.
- **What moved it: the US midterms** Democrats gained in the US midterm elections. Investors saw that as raising the chances of ending the US-Israeli war with Iran.
- **Less risk to Gulf oil supply** The market is pricing a lower chance of disruption to Gulf oil supply. That takes some risk out of crude.
- **Why feed buyers should care** Lower oil means lower energy costs for feed production and transport. The move is driven by politics, so watch whether it holds.

Full analysis: https://feedsoft.ai/events/80646-oil-prices-plunge-more-than-8-on-us-democrats-landslide-victory

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