Oil Prices and Energy Stocks Plunge After Democratic Midterm Sweep

Oil prices and energy stocks plunged after Democrats swept the U.S. midterms, fueling expectations of policy changes and a possible end to the Iran war. Brent crude fell 9% to $94.30 per barrel, and West Texas Intermediate dropped 8% to $87.35, while the S&P Energy index declined 4.77% to 976.18. Democrat victories in Texas and Georgia, where candidates opposed new data center construction, drove expectations of shifts in energy policy. Analysts warned the results might push President Trump toward escalation with Iran instead of de-escalation, which could worsen global energy security. Iranian officials reportedly remained on high alert, anticipating a potential military response from Trump to counter the election loss.