International crude oil prices fell sharply to multiweek lows after the US midterm election results fuelled expectations of stronger political pressure on President Donald Trump to end the war with Iran.
Brent crude fell below $95 a barrel, while US West Texas Intermediate (WTI) crude was around $88 a barrel.
At the trading snapshot described in the report, the sell-off took Brent to a two-month low and WTI to its lowest level in about a month. The two benchmarks had lost around 16% and 15%, respectively, so far this week.
Crude prices also came under further downward pressure as oil exports from the Persian Gulf gradually recovered, adding to supply. Text: Rithy
