Brent crude oil falls under $100 a barrel after Trump's midterm defeats

Brent crude oil falls under $100 a barrel after Trump's midterm defeats Benchmark international oil contract Brent crude dropped more than four percent to under $100 per barrel on Wednesday following heavy defeats suffered by US President Donald Trump's Republican Party in the midterm elections. The price of Brent crude for delivery in January went down 4.7 percent to $98.76 per barrel, hitting below $100 per barrel for the first time since early October. The benchmark US oil contract, WTI, also dropped 4.5 percent to $91.73 a barrel.