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الصباح
Oil plunges on Trump loss
Oil prices fell by more than $3 a barrel on Wednesday after Democrats seized control of both houses of Congress in the midterm elections. The result raised expectations that the defeat of Donald Trump’s party would prompt his administration to back down on Iran, despite continued risks of escalation. Brent crude fell $3.20, or 3.09%, to $100.40 a barrel, while U.S. crude dropped $3.01, or 3.13%, to $93.08. Oil and product flows also declined from 18.9 million barrels per day in September to 17.1 million in October, and U.S. crude inventories fell by 5.27 million barrels in the week ended October 30.
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