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Oil prices slide after US midterm results as Trump plays down Iran strike prospects

By ChordNews · First written (new coverage , updated )

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Summary

Oil prices fell after the US midterm elections as investors bet that a Democratic sweep could bring a quicker end to the months-long Iran conflict that has upended global energy markets. Bloomberg reported that Brent oil futures plunged 10% to trade below $100 a barrel. Seeking Alpha reported that crude also slid after the election rout as Trump played down the prospect of new strikes on Iran, and separately flagged ten oversold energy stocks as oil prices fell.

This continues an earlier story: Oil rises on fears the US may resume military strikes against Iran

Later: Trump Says No Immediate Plans for Further Iran Strikes, Sending Oil Sharply Lower and Lifting Asian Stocks · Democratic Sweep of Congress Fuels Stock Rotation That Sinks Asian Chipmakers and Lifts Autos · Tech stocks plunge most since 2020, erasing a record $2.3 trillion as AI fears grow · Oil Prices Whipsaw After Midterms as Traders Weigh Iran Conflict Risks · Oil prices hit 10-week low after Trump says strikes on Iran are 'highly unlikely' · Oil prices keep falling after the US midterm elections, and fuel prices are following

Timeline

  1. Bloomberg

    Source ↗

    Bloomberg reports that Brent oil futures plunged 10% to trade below $100 a barrel as investors wagered that a Democratic sweep in the US midterm elections could usher a quicker end to the Iran conflict.

  2. Seeking Alpha

    Source ↗

    Seeking Alpha reports that oil prices slid after the US election rout as Trump played down the prospect of Iran strikes.

  3. Seeking Alpha

    Source ↗

    Seeking Alpha reports on ten oversold energy stocks as oil prices slid after the US midterm elections.

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