Brent Crude Drops Under $100, First Time Since October

Brent crude fell below $100 a barrel on November 4, down about 10% and for the first time since early October, Bloomberg reported. Traders bet on a Democratic sweep in US midterms, and hopes for an end to the US-Israeli war with Iran have risen. Neither is confirmed. Lower oil eases near-term inflation pressure, which can pull mortgage rates down.