Oil prices extend slide for fourth day as Brent drops below $95

Crude oil prices fell for a fourth consecutive day on Thursday, November 5, with Brent slipping below $95 and WTI near $87, following a steep 9 percent crash in the previous session. The decline was driven by market speculation that President Donald Trump's Republican Party losses in the Congressional elections could pressure his administration to seek a negotiated settlement to end the conflict with Iran, increasing the likelihood of a diplomatic resolution. Goldman Sachs raised its oil price forecasts due to potential supply risks, projecting Brent could rise to $105 a barrel by December, while JPMorgan noted the market has returned to surplus, though analysts warned geopolitical risks remain unpredictable.