{"id":3784,"date":"2026-11-04T09:03:44","date_gmt":"2026-11-04T04:03:44","guid":{"rendered":"https:\/\/ipp-news.com\/?p=3784"},"modified":"2026-11-04T09:03:44","modified_gmt":"2026-11-04T04:03:44","slug":"oil-edges-down-as-investors-await-us-midterm-election-results","status":"publish","type":"post","link":"https:\/\/ipp-news.com\/?p=3784","title":{"rendered":"Oil edges down as investors await US midterm election results"},"content":{"rendered":"
\n

Oil prices slipped in early trade on Wednesday as investors awaited the results of the US midterm elections<\/a> and their potential impact on peace talks in \u200bthe Middle East, even after industry data showed US crude stocks unexpectedly fell \u200clast week.<\/strong><\/p>\n

Brent futures fell 26 cents, or 0.25%, to $103.34 a barrel by 0157 GMT. US West Texas Intermediate crude futures fell 53 cents, or 0.55%, to $95.56.<\/p>\n

In the previous session, Brent eased more than 1% \u200bto its lowest level in nearly four weeks as traders weighed talks to \u200bend the wars in Ukraine and Iran.<\/p>\n

Vote counting was underway in the \u2060US midterm elections<\/a>, which will determine whether Trump\u2019s Republican Party retains control of Congress for \u200bthe rest of his second term.<\/p>\n

Markets remained on watch for any progress in talks to \u200bend the US-Israeli war with Iran, as Qatar stepped up mediation efforts to avert an escalation of attacks after the US midterm elections.<\/p>\n

A senior Iranian official told Reuters on Tuesday that Iran and the \u200bUnited States remain far from a deal<\/a> to end their war.<\/p>\n

The United States carried out \u201cdefensive\u201d \u200bstrikes on Iran\u2019s Qeshm island targeting surface-to-air missiles used against US assets, a US official said on \u200cTuesday.<\/p>\n

Another \u2060official said the strikes appeared limited and did not signal a return to major combat operations.<\/p>\n

US President Donald Trump told the Financial Times on Tuesday that the United States had no immediate plans<\/a> to strike Iran.<\/p>\n

\u201cWe seem to be getting everything we want,\u201d Trump said \u200bin the six-minute telephone \u200binterview.<\/p>\n

Meanwhile, crude stocks fell \u2060by 5.27 million barrels in the week ended October 30, market sources said on Wednesday, citing data from the American Petroleum Institute.<\/p>\n

Eight analysts polled \u200bby Reuters had expected, on average, a rise of about 880,000 \u200bbarrels in \u2060crude inventories.<\/p>\n

Gasoline stocks rose by 1.43 million barrels, while distillate inventories fell by 1.19 million barrels from a week earlier, the sources said.<\/p>\n

\u201cDiesel inventories remain tight, while gasoline stocks rose more \u2060than \u200bexpected. The data are broadly supportive of oil prices,\u201d \u200bHaitong Futures said in a note on Wednesday.<\/p>\n

Official data from the US Energy Information Administration is due at 10:30 am on Wednesday.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Oil prices slipped in early trade on Wednesday as investors awaited the results of the US midterm elections and their potential impact on peace talks in \u200bthe Middle East, even after industry data showed US crude stocks unexpectedly fell \u200clast week. Brent futures fell 26 cents, or 0.25%, to $103.34 a barrel by 0157 GMT. US West Texas Intermediate crude futures fell 53 cents, or 0.55%, to $95.56. In the previous session, Brent eased more than 1% \u200bto its lowest level in nearly four weeks as traders weighed talks to…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-3784","post","type-post","status-publish","format-standard","hentry","category-english"],"gutentor_comment":0,"_links":{"self":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts\/3784","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3784"}],"version-history":[{"count":0,"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts\/3784\/revisions"}],"wp:attachment":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3784"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3784"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3784"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}