Iran escalation risk stays high after oil slump and Democratic midterm sweep
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Analysts say U.S.–Iran tensions remain acute despite crude falling more than 16% over five sessions after Vice President JD Vance linked the Republican midterm loss to the war. Democrats plan a war powers resolution to end the conflict but are not seated until January; tankers were attacked near Oman with one seafarer killed, Houthis fired on Saudi Arabia, a third U.S. carrier strike group is en route, and Rapidan Energy estimates an 80% chance of renewed fighting.
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