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Oil Plunges 9% After Democrats Win U.S. Midterms on Iran War Ceasefire Bets

U.S. midterm elections gave Democrats control of Congress and oil prices fell sharply as traders bet on an end to the Iran war. WTI briefly dropped over 9% to $87.13 a barrel while Brent slid about 10% to $93.22, its biggest one day fall since May. Iran rejected the idea that Washington political change would alter U.S. hostility, leaving ceasefire prospects uncertain.
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