Brent Falls on Peace Hopes

WashingtonBrent crude fell 8.7% to $94.60, a two-month low.

Traders priced the Democratic midterm sweep as pressure on Donald Trump to end the Iran war.

Brent is down about 17% since last week on peace-deal reports, and US benchmark crude fell 8% to about $88.40.

Joel Hancock, a Natixis analyst, warns volatility is so high that few traders will place big bets.

Without a Washington–Tehran peace deal, Hancock expects Brent back above $100 on shipping costs.

How each outlet framed it

Financial Times News: ties the oil slide to Vance blaming the Iran war for the midterm loss, citing pollster data that Republican voters wanted the war ended