Brent crude fell over 10% to $93 per barrel, slipping below $100 for the first time since October 7 as markets digested US election results that were largely priced in.
Brent crude fell over 10% to $93 per barrel, slipping below $100 for the first time since October 7 after US election results that were largely priced in. A double-digit selloff signals bearish momentum for holders, while Iran risks noted in the headline could revive a geopolitical premium and limit further downside.
Brent crude dropped over 10% to $93 per barrel.
The move followed US election results that were largely priced in, and Brent slipped below $100 for the first time since October 7.
Brent crude oil prices dropped over 10% to $93 per barrel, marking the first time the commodity has traded below the $100 threshold since October 7. Rabobank strategists attribute the sharp decline to US election results that were already largely priced into the market.
Brent crude dropped over 10% to $93 per barrel.
The move followed US election results that were largely priced in, and Brent slipped below $100 for the first time since October 7.