Tehran is deploying everything from rocket-propelled grenades to limpet mines as it attempts to disrupt the restored flow of oil out of the Persian Gulf.
Gold held a decline as traders tracked diplomacy efforts in the Middle East and the outcome of US midterm elections for clues on the path for interest rates and American fiscal policy.
Oil edged higher after a two-day decline as traders weighed the outlook for the US-Iran war following conflicting signals on the trajectory of peace talks.
Oil futures gave up early gains that followed U.S. strikes on Iranian targets, slipping into the red amid optimism about diplomatic efforts to bring the U.S. and Iran to a conflict settlement.
The dollar rose on Election Day in the US, buoyed by climbing Treasury yields and solid economic data, while traders monitored developments in the Middle East for a sense of the greenback’s direction.
The former U.S. ambassador to Vietnam, speaking in Ho Chi Minh City on election day, says tariff power "rests with the executive."
Saudi Arabia’s quarterly fiscal deficit more than doubled as the kingdom faces the financial toll of the US-Iran war that began more than eight months ago.
"Does the Republican Party divide over MAGA-related issues, and does President Trump escalate hostilities in the Gulf War with wider economic consequences at home and abroad?"
US stock futures fell as oil prices rebounded on worries that America and Iran remain far apart on a peace deal, adding to subdued risk sentiment before voting starts in the midterm elections. S&P 500 contracts slipped 0.2%. Brent crude rose 1.7% to above $106 a barrel, with Reuters reporting that significant obstacles to ending the war remained despite signs from both Washington and Tehran that they were open to a diplomatic settlement. Flat Nasdaq 100 futures signaled a steadier start for the artificial intelligence trade after the index entered a technical correction. The Opening Trade has everything you need to know as markets open across Europe. With analysis you won't find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards, Guy Johnson and Tom Mackenzie. (Source: Bloomberg)
BGN is investing in more vessels, including VLCCs, as shipping companies navigate disruptions from the Iran war. Wael Amer, group chief operating officer at BGN, spoke to Bloomberg’s Abeer Abu Omar about the company’s investments aimed at helping the energy trader continue reaching customers during difficult market conditions. (Source: Bloomberg)
Michael O’Leary warns that European airfares could rise as much as 20% in 2027 as the Iran war drives up fuel costs and forces airlines to cut flights.
Oil is steadying after a sharp drop as hopes build that the US and Iran could be moving closer to a negotiated settlement. Amos Hochstein, managing partner at TWG Global and a former adviser to President Joe Biden, says markets should remain prepared for the possibility of further strikes even as talks continue. (Source: Bloomberg)
Liquefied-natural-gas output was set for its steepest annual decline on record as the Iran war chokes off supplies and intensifies competition among importers.
Saudi Aramco posted a 9% increase in third-quarter profit following a jump in earnings from its refineries and as the Iran war drove oil prices higher. The company’s oil selling price was about 35% higher in the quarter from a year earlier. Bloomberg's Mitchell Ferman reports. (Source: Bloomberg)
Middle East oil markets are indicating near-term supply is outpacing demand for the first time since July — when global prices plummeted after a temporary ceasefire between the US and Iran allowed tankers to exit the Persian Gulf through the Strait of Hormuz.
Gold was steady, after jumping the most in two months on Monday as hopes of a breakthrough in US-Iran peace talks sent oil prices plunging and eased anxiety over accelerating inflation.
Oil steadied after its biggest slump in more than three months, with the US and Iran signaling a willingness to pursue peace talks as the war in the Middle East enters its ninth month.
Asian technology stocks looked set for losses Tuesday after a selloff in US chipmakers deepened, overshadowing a plunge in oil prices on hopes for diplomatic progress toward ending the war in Iran.
Global oil demand is set to drop by about 3 million barrels a day in 2026 and will take a year to recover to levels seen before the US-Iran war, according to Vitol Group Chief Executive Officer Russell Hardy, underscoring the economic toll of the surge in energy prices.
Prices dropped as renewed diplomatic efforts to end the conflict between the U.S. and Iran eased concerns over Middle East oil supplies, reversing some of last week’s gains.
A report that says President Donald Trump wants to give diplomacy with Iran more time helped ease pressure on oil prices, with Brent falling more than 3% to below $110 a barrel. Apple reclaimed the title of world’s most valuable company on Friday, taking the mantle from Nvidia as investors seek the perceived safety of the iPhone maker amid concerns about artificial intelligence spending. The Opening Trade has everything you need to know as markets open across Europe. With analysis you won't find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards, Guy Johnson and Tom Mackenzie. (Source: Bloomberg)
Trump Banks on Rallies to Turn Out MAGA Faithful Again Dems Show Strength Ahead of Election Day: NYT/ Siena Polls Haley Stevens Backs GOP’s Mike Rogers in Michigan DOJ Appeals Judge’s Dismissal of AK Senate Lawsuit Gulf States Fear Fiercer Iran Retaliation If US Strikes Ukraine, Russia Report Cyberattacks on Emergency Alert Apps (Source: Bloomberg)
Chilean fixed income investors are flocking to index-linked notes as the war in Iran drags on into its nine month, pushing oil prices to levels not seen since April and stoking inflation expectations.
States like Saudi Arabia and the United Arab Emirates that have worked to rebalance from a dependence on energy have seen growth plunge in a year of strife.
Asian shares are mixed ad oil prices have retreated, falling sharply on renewed hopes for progress in diplomatic efforts between the U.S. and Iran
The airline says fuel prices may rise by €2bn in 2028 unless there is an end to the US-Israel war with Iran.
Japan sold its fifth climate transition bond of the year, remaining the only government to use the designation despite the country’s increasing reliance on fossil fuels since the start of the war in Iran.
Bloomberg's Jon Herskovitz details Donald Trump’s dual-track Iran strategy, balancing regional diplomatic talks against a US military buildup. Meanwhile, Gulf allies fear renewed strikes could trigger severe Iranian retaliation against critical energy infrastructure. (Source: Bloomberg)
Emerging-market currencies fell as investors weighed lingering Middle East tensions and awaited US economic data later this week.
Gulf states fear another US-Israeli attack on Iran could unleash a more destructive war across the region, leaving them to pick up the pieces. Bloomberg's Michael Heath has the latest. (Source: Bloomberg)
Philippine bonds may become one of Asia’s best performers once inflation pressures ease and risks from the Iran war recede, according to Brandywine Global Investment Management.
On Saturday, Ayatollah Mojtaba Khamenei warned Iran’s response would be "without any geographical limitations."
Bloomberg News Senior Executive Editor Wes Kosova tells Bloomberg This Weekend that President Donald Trump is struggling to convince voters the economy is strong as higher fuel prices and affordability concerns weigh on his support, including among Republicans. Speaking with hosts David Gura and Lisa Mateo, Kosova says Trump’s last-minute promises of financial relief may have limited power to change voters’ perceptions, while the prolonged Iran war adds uncertainty over when energy prices could ease. (Source: Bloomberg)
South Korea’s Sinokor controls about half the tanker transits through the Strait of Hormuz, benefiting from a big bet just before the war in Iran started.
Pakistan negotiated with Iran to secure safe passage for liquefied natural gas carrier Al Mayeda before the ship was attacked near the Strait of Hormuz on Friday, according to people with direct knowledge of the matter.
EU foreign policy chief Kaja Kallas tells Bloomberg This Weekend that Russia is escalating its war in Ukraine and is not serious about peace, criticizing Russian Foreign Minister Sergei Lavrov’s statements at the G20 foreign ministers’ meeting in Atlanta and warning against normalizing Moscow on the international stage. Speaking with host David Gura, Kallas also calls for a diplomatic solution to tensions with Iran and discusses efforts to deepen the EU’s relationship with Canada through greater cooperation on trade, energy and defense. (Source: Bloomberg)
Oil companies are reporting another quarter of sky-high profits as the war in Iran pushes up the price of oil — and prices at the pump.
That’s how many barrels of oil have made it out of the Hormuz Strait with U.S. military guidance.
Safe-haven gold fell to its lowest price in a year, despite jitters around the potential for fresh Middle East attacks following the U.S. midterm elections on Tuesday
Factors like inflation, interest rates, A.I. and the war with Iran are far more important, our columnist says.
Europe’s economy persevered with moderate growth in the third quarter despite higher oil prices from the US-Iran war, as gross domestic product increased by 0.4% over the quarter before
Oil climbed as traders gauged Washington’s appetite for renewed military escalation against Iran, adding fresh risk to supplies in the Middle East.
Oil prices fell as traders assessed fresh U.S. efforts to revive peace negotiations with Iran, while persistent Middle East supply risks and the possibility of renewed military escalation limited losses.
British Treasury chief John Healey faces a fine balancing act when he delivers his first budget statement, with the economic backdrop made more difficult as a result of the turmoil caused by the Iran war
Egypt’s parliament has voted to authorize President Abdel-Fattah el-Sissi to provide Saudi Arabia with military support in defending the kingdom against attacks by Iran-backed Houthi rebels
Since launching the war with Iran nearly eight months ago, U.S. President Donald Trump has struggled to quell soaring energy costs, undermining Republicans’ attempt to keep control of Congress in the midterm elections next week
Americans have spent an estimated $80 billion more in gas since the Iran war started. According to an NBC News analysis, drivers who fill up twice a month paid anywhere from $20 to $300 more for gas.
