---
title: Oil Crashes 9% as Trump and Vance Blame Iran War
description: "Treasuries (close 2026-11-02): 2s 4.59% (+3.0bp), 10s 4.91% (-3.0bp), 30s 5.28% (-3.0bp). Tape (close 2026-11-02): VIX 20.83, 2s10s +34bp."
source: Helious
canonical: "https://helious.io/news/brief-2026-11-04/oil-crashes-9-as-trump-and-vance-blame-iran-war-for-midterm"
---

Daily brief
              04 Nov 2026, 21:05 UTC



# Oil Crashes 9% as Trump and Vance Blame Iran War for Midterm Rout, 10s -3bp

Wed 04 Nov 2026



            Treasuries (close 2026-11-02): 2s 4.59% (+3.0bp), 10s 4.91% (-3.0bp), 30s 5.28% (-3.0bp).

Tape (close 2026-11-02): VIX 20.83, 2s10s +34bp.

Narrative: Oil Crashes 9% as Trump and Vance Blame Iran War for Midterm Rout

What mattered:

- Oil Crashes 9% as Trump and Vance Blame Iran War for Midterm Rout
- Fed Wins Protection With Democrats Taking Control of the Senate
- Treasury yields fall after Democrats win House and Senate majorities
- S&P Global Services PMI: 56.1
- US midterms 2026 results live: Vance blames Iran war for crushing Republican defeat






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