EconomyOil prices tumble as hopes grow for a shift in Iran war policy | Morning Bid

A Democratic sweep of Congress has raised hopes that policy on the Iran war could shift toward de-escalation, putting oil on track for its biggest weekly drop since the pandemic. Lower energy prices are lifting market sentiment, while AI stocks remain under pressure over spending and regulation concerns. The Bank of England is expected to raise rates for the first time in three years as sterling rises and inflation pressures persist.