New Delhi, Nov. 5 -- Brent crude futures fell below $94 a barrel on Thursday for the first time in months, as markets weighed the possibility of an end to the war in the Middle East after US President Donald Trump's Republican Party suffered a rout in the midterm elections.

According to a Reuters report, Brent was trading at $93.50 a barrel on Thursday morning, following an 8.7% slide in the previous session. The US benchmark West Texas Intermediate (WTI) also declined 4.5% to $91.73 a barrel on Wednesday and was trading below $87 on Thursday morning.

Oil prices have come under pressure amid renewed hopes of an end to the US-Israeli war on Iran. With Democrats now in control of both chambers of Congress, Trump could face greater difficu...