ReportedShipping, energy & marketsGlobal oil market
Brent falls 8.6% to $94.66 a barrel
- Mountain Time
- Local time
- 1:06 PM in New York
- Where
- Global oil market
Brent crude fell $8.94, or 8.6%, to $94.66 a barrel at 1:06 p.m. ET, while WTI fell $8.01, or 8.3%, to $88.08. OilPrice.com said traders were pricing in a possible end to the Iran war after White House comments linked Republican election losses to the conflict.
Why it matters
The sharp drop reverses part of the war-risk premium in crude and changes the immediate price signal for refiners, importers and fuel consumers.
Source
- OilPrice.comoilprice.comPublished
Confidence: Published by a named news organization. Not yet independently confirmed. About confidence labels