[MARKET UPDATE] Oil sees weakness, paring gains, as WSJ reports US President Trump weighs initial limited strike to force Iran into nuclear deal
Newsquawk Staff ·
Oil sees weakness, paring gains, as WSJ reports US President Trump weighs initial limited strike to force Iran into nuclear deal.
What it means
The report of President Trump considering a limited strike against Iran is introducing uncertainty in the oil market, leading to a pullback in prices after recent gains. This potential escalation could affect supply dynamics and market sentiment, creating volatility across energy, currencies, and equities as traders assess the risks of geopolitical tensions on economic stability.
- Al-Mayadeen correspondent in Iran says Iranian officials believe that Trump wants to bring the nuclear issue into the negotiations, which Iran rejects
- Ukrainian President Zelensky says negotiations between Ukraine, Russia and the US could take place as early as November 10th
- US Midterms (6 days out): Florida flips to a Republican early-vote lead and Kansas narrows further; Crystal Ball shifts House and Senate races towards Democrats
- Israeli election results show Netanyahu's bloc with 53 seats, Eisenkot's bloc with 47 and Arab parties with 19, following the counting of all votes excluding double-envelope ballots, i24 reports
- Atomic Energy Organization of Iran Spokesman says protocol for building small reactors with Russia is being finalized
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