Brent slides nearly 8.6% as traders bet on Iran war ending after Republican midterm losses

What's behind this

Brent slid nearly 8.6% as traders bet on an end to the Iran war after Republican midterm losses, and the resulting slump in crude oil prompted expectations that US gasoline prices could ease. The midterm election outcomes have raised hopes that the electoral setback may pressure a de‑escalation of the conflict, potentially bringing relief to American motorists.

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