GgoogleAU first seen 24 d ago, last 12 h ago, peak #2
Oil prices swing as Iran tensions and U.S. election grip markets
Original: oil price
Oil prices are moving sharply in both directions as traders weigh conflicting signals from the Middle East and the United States. Crude sold off more than 7% on hopes of peace talks involving Iran, only for prices to jump 5% later on renewed Middle East tensions and a hurricane threat to U.S. production. Markets are also factoring in the outcome of the U.S. midterm elections, while reports that Donald Trump is considering strikes on the Houthis have added to the uncertainty. Analysts say volatility is likely to persist until the geopolitical picture clarifies.
Why now: Rapid swings in crude prices driven by Iran conflict headlines and the U.S. midterm elections are affecting traders, consumers and policymakers worldwide.
IranUnited StatesDonald TrumpHouthisOPEC oil market
Evidence
- Oil extends losses as markets weigh U.S. election outcome, Iran war uncertainty · Yahoo Finance Australia
- Oil tumbles 9% as investors eye possible end to Iran war after US midterm elections · Reuters
- Oil falls on Iran war uncertainty, US Democrats' midterm sweep · CNBC
- The never-ending absurdity of global oil markets · The Economist
- Crude oil prices sell off more than 7% on Iran peace talk hopes ahead of U.S. midterms · CNBC
- Trump mulls strikes on Houthis as Aussies warned against Saudi travel · Adelaide Now
- Oil prices jump 5% on Middle East tensions and US hurricane threat · The Guardian
Elsewhere
API: https://socialmediatrends-api.osmike.com/v1/trends/2020056