Crude crashes below $100: Brent, WTI hit over two-month lows after midterm elections

Oil prices continued to ease on Thursday, with Brent crude and US West Texas Intermediate (WTI) tumbling below the $100-per-barrel threshold.Brent slipped below the $95-per-barrel mark, while WTI fell below $90, as markets continued to react to the political fallout of the US midterm elections and the possibility of an end to the war with Iran.Brent crude futures fell 50 cents, or 0.53%, to $94.12 a barrel, while WTI crude declined 61 cents, or 0.69%, to $87.51.The latest movement follows Wednesday's sharp sell-off, when both benchmarks lost more than 8% and settled at their lowest levels in over two months.

Brent ended the session at $94.62 a barrel, shedding $8.98 or 8.7%, while WTI settled at $88.12, down $7.97 or 8.3%.