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Oil Prices Whipsaw After Midterms as Traders Weigh Iran Conflict Risks

By ChordNews · First written (new coverage , updated )

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Summary

Oil prices swung after the US midterm elections. Bloomberg reported that oil rebounded on Thursday from a sharp selloff triggered by a Democratic sweep of the midterms, then pushed higher as traders weighed the outlook for an end to the war in the Middle East. CNBC reported that oil prices fell on Friday and were set for a sharp weekly decline, as investors weighed the risk of renewed Iran war escalation after the midterms against prospects for a diplomatic breakthrough.

This continues an earlier story: Oil prices slide after US midterm results as Trump plays down Iran strike prospects

Later: Diplomatic Efforts by US and Iran Push Brent Crude Lower · Oil Edges Higher After Two-Day Decline as Traders Weigh End to US-Iran War

Timeline

  1. Bloomberg

    Source ↗

    Bloomberg reports that oil pushed higher after rebounding on Thursday from a sharp selloff triggered by a Democratic sweep of US midterm elections, as traders weighed the outlook for an end to the war in the Middle East.

  2. CNBC

    Source ↗

    CNBC reports that oil prices fell Friday and were set for a sharp weekly decline, as investors weighed the risk of renewed Iran war escalation after the midterms, alongside prospects for a diplomatic breakthrough.

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