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Oil Falls on GOP Loss
Oil prices fell on Wednesday after Democrats won majorities in both the U.S. House and Senate. Brent crude dropped 1.25% to $102.31 a barrel, while West Texas Intermediate fell 0.74% to $95.38. Brent has lost more than 13% since the start of the week amid optimism about diplomatic contacts in the Middle East. Donald Trump said Iran was one factor behind the Republicans’ poor results, pointing to rising oil prices.
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