Oil Prices Dip Ahead of U.S. Midterm Election Results

Brent, a global oil benchmark, fell 26 cents, or 0.25%, to $103.34 a barrel at 0157 GMT on November 4, 2026, per Reuters. U.S. oil (West Texas Intermediate) dropped 53 cents, or 0.55%. Investors awaited midterm election results. Oil costs feed gasoline, diesel and transport prices, which can push up inflation (rising prices) and, through it, interest rates.