Oil prices rose on Tuesday after reports that the U.S. struck Iran's Qeshm Island late Monday, one day before the midterm elections. Brent climbed 1.75% to $106.60 a barrel and West Texas Intermediate gained 1.7% to $98.10, rebounding from a selloff of more than 7% on Monday after the U.S. and Iranian presidents signaled openness to a diplomatic solution. U.S. officials said Washington has been carrying out 'limited strikes' on Iran in recent weeks, while the Trump administration has also touted a possible negotiated settlement. High oil prices have fed inflation and gasoline costs in the U.S., a concern for Trump ahead of the midterms, and two Federal Reserve presidents last week said rates will need to rise to curb inflation.
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Related tickers and likely impact
XAU/USD
▲ Likely positiveRelevance: medium
| Market | Gold |
|---|---|
| Close on 11/02/2026 | 3,946.68 |
| Change that session | +1.84% |
PVD
▲ Likely positivePetroVietNam
Relevance: medium
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Oil & Gas |
| Industry | Oil Equipment & Services |
| Market cap | 16,421 bn VND |
| P/E | 18.1 |
| P/B | 0.96 |
| Close on 11/03/2026 | 17.45 |
| Change that session | -1.41% |
PVT
▲ Likely positivePVTrans
Relevance: medium
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Industrial Goods & Services |
| Industry | Marine Transportation |
| Market cap | 10,649 bn VND |
| P/E | 6.9 |
| P/B | 1.08 |
| Close on 11/03/2026 | 20.80 |
| Change that session | +0.97% |
PLX
▼ Likely negativePetrolimex
Relevance: low
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Oil & Gas |
| Industry | Integrated Oil & Gas |
| Market cap | 41,930 bn VND |
| P/E | 13.1 |
| P/B | 1.50 |
| Close on 11/03/2026 | 33.00 |
| Change that session | 0.00% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
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- Iranians fear return to all - out war with US and Israeli elections
Many Iranians fear a return to all-out war as Israeli and U.S. leaders escalate threats ahead of elections in both countries, while Iran's leaders remain defiant. Israeli Prime Minister Benjamin Netanyahu, facing a close vote on Tuesday, says Iran's leadership must be eliminated, and U.S. President Donald Trump vows to "finish the job" eight months after the war began, as a third aircraft carrier and thousands of troops head to the region. Some fear attacks just after the U.S. midterms on Nov. 3. The U.S. naval blockade of Iranian ports has restricted oil exports, the currency has hit record lows, inflation has soared, and medicine shortages have emerged. Former government official Sasan Karimi says economic pressure will not change Iran's negotiating position.
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Many Iranians fear a return to all-out war as Israeli and U.S. leaders sharpen threats ahead of elections in both countries, while Iran's leaders remain defiant under mounting pressure. Israeli Prime Minister Benjamin Netanyahu says Iran's leadership must be eliminated, and U.S. President Donald Trump vows to 'finish the job' eight months after the war began, as a third aircraft carrier and thousands of troops head to the region. A U.S. naval blockade of Iranian ports has restricted oil exports, pushing the currency to record lows and inflation higher, while Iran has threatened new targets, including undersea data cables in the Strait of Hormuz. Staple prices have surged, with rice over 60% more expensive and beef over 150%, and a supermarket trip can use up half a monthly mid-range salary of 400 million rials (roughly $150). Some Tehran residents are preparing to leave the city.
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- Lower Oil Prices Help Gold Market Recover
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