WASHINGTON (dpa-AFX) - The US Mid term election outcome in favor of the Democrats has influenced oil prices as expected, weighing its potential impact on the Middle East war.
Oil prices reached its lowest level in three weeks Wednesday. Crude oil fell to around $95 per barrel, extending losses for a third consecutive session.
Brent crude, the global oil benchmark, fell by more than 2 percent to $101.4 a barrel in a volatile session.
In a phone interview with The Wall Street Journal Tuesday night, Trump had admitted that the Middle East war contributed to Republicans' loss in the election.
The 80-year-old President insisted that he didn't regret launching the war against Iran, which resulted in blocking supply of fuel through the vital trade route of the Strait of Hormuz, and reflected in fuel price hikes globally and in the United States.
'Iran was a piece of it,' he said.
With the Democrats gaining upper hand in the Congress, the Opposition will have more control on Trump's power to renew military strikes on Iran.
A few hours ahead of the voting, U.S. forces had launched a defensive strike on an Iranian island off the coast of the Strait of Hormuz at the weekend.
Qatar had renewed mediation efforts after concerns if Trump would renew attacks on Iran after the U.S. elections as both sides remain far from a deal to end the Middle East war.
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