U.S. West Texas Intermediate crude oil
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Crude oil prices fall below $90 a barrel as Vance blames GOP election defeat on Iran war
CNBC· 2026-11-05 00:51
Crude oil prices tumbled on Wednesday after Vice President JD Vance blamed the war against Iran for Republican midterm election reversals. U.S. West Texas Intermediate was 7% lower at $89.40. Brent crude futures, the international benchmark, were down nearly 8% to $95.41 a barrel. "The reason we lost is the war," Vance said in a social media post Wednesday. "The president himself said so last night." "But everyone knows why we lost," the vice president said. "And any honest conversation about where we go fr ...