BusinessPhoto: NDTV BusinessBrent Crude Falls Below $100 Amid US-Israel-Iran De-escalation Hopes
On November 4, Brent crude prices dropped below $100 a barrel for the first time since October 7, driven by hopes of de-escalation in the US and Israel's conflict with Iran and improved supply. The Republican Party's losses in the US midterm elections raised chances of a diplomatic breakthrough. US President Donald Trump stated no immediate strike plans but readiness to act. US crude inventories fell by 865,000 barrels last week, the fifth consecutive weekly decline.
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