Oil prices rise as investors weigh renewed U.S.-Iran conflict risks after midterm elections

Brent crude and West Texas Intermediate futures climbed Friday as traders reassessed the potential for renewed U.S.-Iran military confrontation following the midterm elections, with markets also weighing the possibility of a diplomatic breakthrough. The dual catalysts left investors balancing supply-disruption risk against the prospect of eased geopolitical tensions. The outcome matters for global energy costs and inflation, given oil's role as a key input across the economy. Traders will watch for further signals from Washington and Tehran on sanctions, negotiations and any military posturing that could swing crude benchmarks in the sessions ahead.