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Stocks rally as Brent slips toward $103 a barrel after Trump rules out Iran strike before midterms

AI Market Summary
Trump's comment that the US will refrain from attacking Iran before midterms eased immediate fears of Middle East supply disruption, prompting a modest pullback in Brent even as prices remain elevated after tanker attacks in the Strait of Hormuz. The risk premium in energy persists, but near-term volatility may moderate. Higher UK gilt yields signal tighter financial conditions and increased government borrowing costs, adding pressure to UK risk assets.
Impact level
● Medium
Affected assets
NCCO1OILBRENT2USD/USDT-1.49%
AI Insight · NCCO1OILBRENT2USD/USDTAI Insight
● Neutral
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Donald Trump said the US has held “productive discussions” with Iran and would not attack the country before the midterm elections, easing fears of Middle East supply disruptions. Brent crude edged down to around $103 a barrel, though it remained supported after earlier tanker attacks in the Strait of Hormuz. UK gilt yields climbed again, adding pressure to government borrowing costs and the Treasury’s fiscal headroom.
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