12 Hrs
Source:
الوئام
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Oil falls on Vance remarks
Oil prices plunged after the Republicans’ defeat in the midterm elections and Vice President JD Vance’s remarks linking the loss to the continuation of the war with Iran. West Texas Intermediate crude fell 8.3% to $88.12 a barrel, while Brent dropped 8.7% to $94.62. The election results strengthened expectations that President Donald Trump would face greater pressure to end the war and reach a diplomatic agreement with Tehran, as oil prices fell by about 14% over the week. Analysts, however, warned that the risk of military escalation in the region remains, given the negotiating parties’ hard-line positions.
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