We’re seeing a dip in oil prices this morning, with Brent crude down about 1% at $103 a barrel, after another momentary pause in US attacks on Iran.
Prices eased overnight on news that US president Donald Trump had pledged in a Truth Social post not to attack Iran ahead of the US midterm elections, which take place on 3 November.
It comes as public support for his war in the Middle East is waning and ultimately weighing on Republican election campaigns.
An Reuters/Ipsos survey from late September show thats only a third of Americans approve of strikes on Iran, while approval for Trump among Republicans had fallen from 82% to 73% in a week.
Polling averages now show Democrats leading Republicans by roughly nine points on the generic congressional ballot, according to forecaster Nate Silver, the widest margin of this election cycle.
Oil prices have also eased on news that China is set to resume fuel exports, after a pause in deliveries during the country’s Golden Week holiday. The resumption of exports are expected to boost tight global supplies of diesel, gas, and jet fuel.
Today’s key events
• 9am BST: Italian Industrial production
We’ll be tracking all the main events throughout the day on our business live blog …
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