West Texas Intermediate crude lost 8.3% to close at $88.12 a barrel. [E4]
Brent crude futures, the international benchmark, shed 8.7% to settle at $94.62. [E5]
CNBC quoted Andy Lipow, president of Lipow Oil Associates, saying the elections were leading the market to conclude that President Donald Trump might now be inclined to make a deal. [E3]
The Guardian reported that Vance added: “Everyone knows why we lost. And any honest conversation about where we go from here must start there.” [E6]
Politico reported that Vance told people who said they had warned him that they were right. [E1]
Politico reported that Vance said the reason for the loss was the war and that Trump had said the same the previous night. [E2]
The paper’s October 31 coverage reported that Iran’s Revolutionary Guard said four oil tankers, including one carrying more than 2 million barrels of oil, had hit mines and caught fire in the Strait of Hormuz. This report records the market reaction after the midterms. [E7]