Oil Prices Fall 8 Percent After Trump Midterm Loss
Oil prices dropped over 8 percent to a two-month low on Wednesday after Republicans lost control of Congress in midterm elections. Investors bet the shift in power could hasten an end to the US war with Iran.
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Brent Crude Oil fell 8.7% to settle at $94.62 a barrel on Wednesday following the United States midterm elections. The drop marks the lowest close for both major benchmarks since August 31. Investors are pricing in a quicker diplomatic exit from the ongoing conflict with Iran.
