U.S. Democratic sweep helps Brent crude plunge 8.7% under $100 on Iran deal hopes
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After pre-election uncertainty, Democrats captured both the House and Senate. Traders had priced big gains; ICE Brent crude then fell 8.7% on Wednesday and closed below $100 a barrel for the first time since September on expectations President Donald Trump may strike a deal to end the war with Iran, easing Gulf refining strain, while markets still weigh whether this curbs global rate hikes next year alongside uncertain oil prices, U.S. growth and fiscal policy.
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