Oil Plunges Over 8% as Democrats Sweep Midterms on War-End Hopes

The scale of the move suggests markets are pricing a genuine policy shift rather than a simple sentiment wobble, with the Democratic sweep read as a credible path toward winding down the Iran conflict. The counterweight is the Iranian leadership's dismissive response, which implies the war's end is not solely a US decision and that supply risk has not been retired. Whether the selloff holds depends less on election arithmetic than on whether a durable de-escalation actually materializes.