Oil Prices Fall as Escalation Risks Against Iran Ease

Oil prices fell today, marking the fourth consecutive day of decline, amid expectations that losses suffered by the Republican Party to which US President Donald Trump belongs in this week's congressional elections may reduce the likelihood of escalating the US-Israeli war against Iran, according to Reuters.

Brent crude futures dropped 97 cents or 1.03 percent to $93.65 per barrel by 0211 GMT, while US West Texas Intermediate crude futures fell $1.14 or 1.29 percent to $86.98.