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The Economic Times

Top News / The Economic Times

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US midterm elections: Crude cools, but Iran war risks keeps markets guessing

Oil prices are expected to stay elevated amid President Trump's weakened political position after the midterms. Uncertainties regarding the Iran conflict could impact military strategies, potentially leading to higher oil costs. A resolution that restores oil transport through the Strait of Hormuz is crucial for reducing oil prices. Trumps decisions may influence the ongoing military conflict or create a deal with Iran.

5 Nov 2026 1:26 am