WSJ · 2026-11-04 14:00 UTC

⚡Flash Heard: The Blue Wave Causes a Small Ripple in Oil

Democratic sweep caused oil prices to drop $2 this morning. Energy traders estimate fair value at $90/barrel with normalized Strait of Hormuz exports, but Brent crude trades at $102, indicating a $12 risk premium. Market remains nervous about potential U.S. attacks on Iran that could trigger fresh supply shocks.

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