Oil falls for a fourth day on expectations for lower risk of Iran war escalation
Oil prices fell for a fourth day on Thursday on expectations the losses US President Donald Trump’s Republican Party suffered in Congressional elections this week may reduce the risk of further escalation of the US-Israeli war on Iran. Brent futures fell 97 cents, or 1.03% at $93.65 a barrel as of 0211 GMT, while US West Texas Intermediate crude futures were down $1.14, or 1.29%, to $86.98. Both benchmarks tumbled by more than 8% in the previous session to settle at their lowest since August 31.