XLE & Oil

Energy on Edge Ahead of USA Midterms

Rigzone·Oct 28, 2026 · 6:02 AM CT
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Readthrough summary

Macquarie strategists say energy markets are on edge ahead of the Nov. 3 U.S. midterms over fears of escalation, which they believe has driven much of crude's recent strength. They argue fundamentals are actually improving, with resilient flows through the Strait of Hormuz and global inventory draws largely ceasing.

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