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Oil price falls below $95/barrel as US mid-terms spark Middle East war uncertainty
- Oil price fell by 8 percent to $94 per barrel on Wednesday.
- Brent crude, the global oil benchmark, dipped by 8.5 percent to $94.79 per barrel, while US West Texas Intermediate (WTI) declined by 8.33 percent to $88.09 per barrel.
- The decline came amid political developments in the United States, where Democrats won control of both chambers of the congress in the midterm elections.
- According to Reuters, investors are awaiting Washington’s next move in the US-Israeli war against Iran after Trump’s Republican Party lost control of the ccongress.
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