Brent and WTI are set for a steep weekly drop on de-escalation hopes, yet tanker attacks in the Strait of Hormuz keep a floor under the market, Reuters reports.
Analysts outline how the November 3 US midterm outcome could shape foreign fund flows, the dollar and Treasury yields for Indian stocks, according to Moody's.
Analyst Geoffrey Dennis, per TradingView, says Brent may stay at $95–115 without more progress toward peace, and also weighs in on AI stocks and US midterms.
Reuters columnist Ron Bousso says high US fuel prices have become a political liability for Trump before midterms, despite America's top oil and gas producer status.
According to WSJ, US stocks finished a choppy week in the red as AI investment worries and pricier oil weighed, with the 10-year Treasury yield near 5%.
Chile's Codelco is offering European buyers 2027 copper at a $350 per ton premium, a record, Reuters reported citing two people familiar with the talks.
Reuters: US index futures climbed as AI-linked stocks recovered from a selloff, while Brent and Treasury yields fell after a Russia sanctions decision.
Spot gold rose 0.2% to $4,172.87 an ounce as oil retreated from a five-month high, easing inflation concerns ahead of the Fed meeting, Reuters reports.
Brent crude climbed 3.7% to $110 a barrel, its highest since May, while Donald Trump waived sanctions tied to the Graham Act on national interest grounds.