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

OilPrice.com · Charles Kennedy · 2026-11-04 18:30 UTC

Brent fell $8.94, or 8.6%, to $94.66 per barrel at 106 p.m. ET on Wednesday, after touching its lowest level since September 4

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The UK has approved the…

Brent fell $8.94, or 8.6%, to $94.66 per barrel at 1:06 p.m. ET on Wednesday, after touching its lowest level since September 4, with traders pricing an end to the Iran war after the White House tied Tuesday’s midterm losses to the conflict. WTI dropped $8.01, or 8.3%, to $88.08. Brent traded near $118 on Friday.

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