Oil prices hit two-month low following US midterm election results
Crude oil prices dropped to a two-month low as investors anticipate the Democratic Party's victory in the US midterm elections.
Crude oil prices fell to a two-month low after the Democratic Party won control of both chambers of the US Congress in the midterm elections, according to The Hindu.
Brent crude futures declined 1 per cent to $93.5 per barrel, following an 8.7 per cent drop in the previous session. This movement comes as investors bet that the Democratic victory could hasten the end of the war between the US and Israel on Iran.
Indian equity markets are expected to open higher on Thursday, November 5, 2026. GIFT Nifty futures stood at 24,295.5 at 8:01 a.m. IST, suggesting a positive start for the Nifty 50, which ended Wednesday at 23,960.6.
Foreign investors purchased Indian shares valued at ₹72.84 billion ($769.65 million) on Wednesday, November 4, 2026. This represents the fourth consecutive session of buying by foreign investors.
The Nifty 50 and BSE Sensex have increased by 5.6 per cent over the last five sessions. This streak is supported by foreign investment, lower oil prices, and robust earnings.
Hariselvan Radhakrishnan, founder and CEO of HST Wealth, said that if the current magnitude of the oil price move is sustained, it could materially improve India's near-term macro and earnings outlook.
