Business
Oil prices swing amid US midterm vote count and Iran war negotiations
November 4, 2026 at 08:30 AM
Oil futures traded unevenly Wednesday as vote counting continued in US midterm elections and Iran–US war talks stayed stalled.
- Brent crude traded at $104.42 a barrel Wednesday, up 0.8%, after sliding 0.25% to $103.34 in early Asian trade.
- Trump told the Financial Times on Tuesday that the United States has no imminent plan to strike Iran.
- A senior Iranian official told Reuters on Tuesday that Iran and the United States remain far from reaching an agreement to end their war.
- A US official said the United States carried out defensive strikes on Iran's Qeshm Island targeting surface-to-air missiles used against US assets.
Market angle
- Higher oil prices raise the selling prices of refined oil products. — may benefit: Energy & support services
Not investment advice.