Energy and oilUpdated November 5

Brent falls below $100 after the US election.

Brent fell more than 8% on Wednesday, dropping below $100 a barrel for the first time since early October, and was trading near $94 on Thursday morning, Asharq Business with Bloomberg reported. The outlet framed the decline as part of a post-election repricing of risk, with a market bet related to the Iran conflict. That remains a market expectation, not a confirmed change on the ground or an end to the conflict. Separately, the Saudi Press Agency carried the Foreign Ministry’s October 26 account that Prince Khalid bin Salman bin Abdulaziz, Minister of Defense, and representatives of the Mecca Agreement for Joint Defense visited Tehran as part of efforts to reduce escalation, encourage dialogue and diplomatic solutions, and support mediation by Qatar and Pakistan.

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Coverage started November 4