Oil Prices Slip as Markets Await US Midterms

Oil prices declined in early trade as investors awaited US midterm election results and monitored Middle East peace talks. The drop occurred despite industry data showing an unexpected draw in US crude inventories last week.

Xurve View
Insights:
FILE PHOTO: Vessels at the Strait of Hormuz, as seen from Musandam, Oman, October 2, 2026.

Brent Crude Oil fell 26 cents, or 0.25%, to $103.34 a barrel during Wednesday morning trade as investors awaited the United States midterm election results.