At 10:45 a.m., the price of a barrel of Brent crude for January delivery fell 1.25% to $102.31. At the same time, U.S. West Texas Intermediate crude for December delivery fell 0.74%, settling at $95.38.
With today’s decline, Brent crude has lost more than 13% of its value since the beginning of the week. The main reason for the drop is the return of calm to the markets amid diplomatic contacts taking place in the Middle East, which have reduced fears of an escalation in tensions.
In an interview with the Wall Street Journal about the impact of the war in the Middle East on the election results, Donald Trump acknowledged that the Iran issue was one of the factors. However, he placed greater emphasis on the view that rising oil prices had a greater impact on the results than the war itself.
