ReportedShipping, energy & marketsGlobal oil markets
Brent extends its decline to $94.30 a barrel
- Mountain Time
- Local time
- 6:30 AM UTC, Nov 5
- Where
- Global oil markets
OilPrice.com reported Brent crude trading at $94.30 a barrel and West Texas Intermediate at $87.35 as oil prices extended Wednesday’s losses. The outlet attributed the further decline to expectations of U.S. policy changes after Democrats won control of both houses of Congress, including a possible end to the Iran war.
Why it matters
The further decline lowers benchmark crude purchase costs as traders price in the possibility of reduced war-related supply disruption.
Source
- OilPrice.comoilprice.comPublished
Confidence: Published by a named news organization. Not yet independently confirmed. About confidence labels