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AI Financial Intelligence
Professional analysis of central bank decisions

Markets

News
Forex
Stocks
Crypto
Gold
Commodities
Indices
ETFs

Analysis

Fed
ECB
COT
Economic Calendar

Learn

Service Guide
MCP Server
Oil

Company

About
Contact
Data Methodology
AI Disclosure
Pricing
Enterprise
Terms
Privacy
Security
WhatsApp

Status data is currently unavailable

The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.

BreakingCommodities

Crude Oil Plunges 10% as US Midterm Results Fuel Iran De-escalation Hopes

First Detected: Nov 5, 2026, 1:42 AM

Last Update: about 1 hour ago

1 update

Event Summary

Crude oil prices fell as much as 10% intraday on November 5, exceeding the previously recorded 9% decline. Brent dropped below $95 per barrel after a cumulative 16% fall this week. Markets linked the decline to US midterm election results and hopes for an end to the military conflict with Iran. Democratic leaders vowed to block tariffs and war, while Vance claimed there had been a defeat in the Iran conflict.

Timeline

Latest developmentabout 11 hours ago

Brent Crude Slumps to $93 Reaching Lowest Level Since October Following Hormuz Incident

Brent crude prices dropped by more than 10% to $93 per barrel on November 5, 2026, marking the lowest price level for the benchmark since October 7.

Read the full story

Key facts

Crude oil prices plunged 10% in intraday trading, with Brent crude falling below $95 per barrel.
Markets link the decline to US midterm election results raising hopes for an end to the military conflict with Iran.
Brent crude fell below $95 per barrel following a cumulative 16% crash this week.
Crude oil plunge reached 10% in intraday trading, exceeding the previously recorded 9% decline.
Democratic leaders vowed to block tariffs and war, with claims from Vance regarding a defeat in the Iran conflict.

Price Impact

Since event start

CLUSD+2.71%

BZUSD+3.42%