Brent Falls Below $100 First Time In 2 Months As Democratic Win Fuels De-Escalation Hopes

Brent crude prices on November 4 have fallen below $100 a barrel for the first time since October 7. This comes on the back of hopes of de-escalation in US and Israel's conflict with Iran and improving supply availability.

Additionally, there are now fresh chances of a diplomatic breakthrough following the Republican Party's losses in the US midterm elections. US President Donald Trump said teh US had no immediate plans for further strikes, although he continued to maintain that the country was prepared to act if necessary. US crude inventories also fell by 865,000 barrels last week, marking their fifth consecutive weekly decline. 

• 
  Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon
• 
  NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term
• 
  Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani
• 
  'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps
• 
  India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers
• 
  'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax
• 
  Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite
• 
  Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness
• 
  CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE
• 
  Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI

Brent crude prices have slumped more than 4% as traders digested the results of an election that was seen as a decision on affordability and the Iran war. Brent has also surged about 70% this year as the war disrupted flows from the Gulf, and diesel and gasoline prices have also rallied, including in the US.

Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay

Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.