Oil Prices Ease Amid Speculation of Middle East De-escalation

Oil's slide came amid reports of potential peace talks or reduced tensions in the Middle East, despite earlier US-Iran tensions. A November 3 post put the API crude draw at 5.267 million barrels, against an expected 2.1 million-barrel build. Oil price movements directly impact consumer inflation and fuel costs. A separate commentator argued that a Republican sweep would call into question whether ordinary Americans have grown worse off under Trump.