Brent Crude Oil Price: $104 Wednesday After the Lowest…
By Tobi Opeyemi Amure
AI summary of the source article
Brent crude futures rose 0.4 percent to $104.05 a barrel on Wednesday following a close at $103.60, as traders weighed US-Iran diplomacy against tightening supply. Meanwhile, an industry survey reported a 5.3 million barrel US crude draw.
Why it matters
The election result "changes the pressure on the administration: high energy costs tied to the Iran conflict were a campaign issue, and a Democratic Congress will keep them in focus."
Key facts
- Brent crude futures traded at $104.05 a barrel on Wednesday, up 0.4 percent from Tuesday's settlement of $103.60.
- The API reported a 5.267 million barrel crude inventory draw for the week ending 30 October.
- Diplomatic talks mediated by Qatar are scheduled to continue in Abu Dhabi on 10-11 November.
Source excerpt · FinanceFeeds
Updated 4 November 2026, 06:35 GMT. Brent crude futures are trading at $104.05 a barrel on Wednesday, up 0.4 percent from Tuesday's settlement of $103.60 (Yahoo Finance, ICE data). That settlement was down $1.17 and the lowest close since 7 October (CNBC, Mitrade), as traders bet on a US-Iran settlement. Overnight, Democrats won the House in the midterms, and an industry survey showed a 5.3 millio…