Oil Falls Below $100 as Iran War Weighs on Fuel CostsIran War’s Fuel Costs Put Pressure on Trump After GOP LossesOil Retreat Offers Consumers Relief After Costly Iran War
Brent crude fell below $100 a barrel on November 4 after almost four weeks of staying above it, as markets watched for signs the Iran war might ease. On November 5, Brent stood at $99.52.Oil fell below $100 a barrel on November 4 as markets weighed whether midterm losses would push President Donald Trump toward ending the Iran war. Gasoline and diesel costs remain a concern for voters and the wider economy.Brent crude slipped below $100 a barrel on November 4, raising the prospect of lower fuel costs after the Iran war drove up prices. The drop came as markets assessed the political response to Republican midterm losses.