BREAKING 🚨 US oil just broke below $90 a barrel
WTI crude is down nearly 7% today to about $89.60, its first move under $90 since October 7Brent is down more than 7% to about $95.70, its lowest level since early SeptemberThat's a 14% drop for WTI and a 19% drop for Brent in just 3 trading sessions since the October 30 highThe selloff came after Democrats flipped the House and Senate, and VP JD Vance wrote on X that "The reason we lost is the war," calling for an end to the Iran conflictEnergy stocks are getting hit too, with $ExxonMobil(XOM.US) -5%, $Occidental Petroleum(OXY.US) -6% and $Chevron(CVX.US) -4%The market is pricing the end of the war premium before any deal is signed. If it holds, cheaper gas could cool inflation fast, which is exactly what the Fed has been waiting forSource: StockMarket.News
