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Oil prices fell by about 9% on Wednesday after Republicans lost control of Congress, as investors awaited Washington’s stance on the war with Iran and hopes grew for a deal to end it. Brent crude fell 8.9% to $94.29 a barrel, while West Texas Intermediate dropped 7.8% to $88.54. Higher Middle East exports and Donald Trump’s statement that there were no immediate plans to strike Iran also weighed on prices.
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