Global oil prices fell by 9% this evening, Wednesday, recording for Brent crude futures a drop of $9.27, or 8.9%, to $94.29 per barrel, marking the lowest level since September 5.
Meanwhile, the West Texas Intermediate crude futures fell by $7.44 or 7.8% to $88.54.
Earlier this evening, global oil markets witnessed a noticeable decline in crude prices, after Brent crude futures fell by more than 3% to record $100.51 per barrel, while U.S. crude dropped by 3% to reach $93.25 per barrel.
These fluctuations in trading come as investors await the next step from Washington in the U.S.-Israeli war against Iran, after the Republican Party, to which President Donald Trump belongs, lost control of Congress in the midterm elections.