Oil prices eased after sliding roughly 8% in the previous session, as investors weighed expectations that a Democratic sweep in the U.S. midterm elections could accelerate efforts to end the months-long Iran war.
West Texas Intermediate traded near $88 a barrel after posting its largest loss since May on Wednesday, while Brent closed near $95. Vice President JD Vance said voter frustration over the war and the U.S.-Israel relationship contributed to the Republican election defeat. Senate Minority Leader Chuck Schumer, a Democrat, pledged to pursue an end to the conflict, which Bloomberg Terminal said had entered its ninth month.
