Rising Middle East risk is keeping oil prices elevated and pressuring the Indian rupee. In Friday morning trade USD/INR rose to about 95.25, near Thursday’s two‑week high of 95.38. TD Securities said a flurry of reports about a possible pre-midterm deal has weighed on crude, but it expects that dynamic to persist through the US midterms and judges Iran unlikely to agree to a deal in the tense run-up to the election. The bank added fundamentals remain tight: tanker attacks and Houthi pressure hav

Rising Middle East risk is keeping oil prices elevated and pressuring the Indian rupee. In Friday morning trade USD/INR rose to about 95.25, near Thursday’s two‑week high of 95.38. TD Securities said a flurry of reports about a possible pre-midterm deal has weighed on crude, but it expects that dynamic to persist through the US midterms and judges Iran unlikely to agree to a deal in the tense run-up to the election. The bank added fundamentals remain tight: tanker attacks and Houthi pressure have apparently reduced Middle East oil shipments, at least temporarily. TD said as long as ongoing attacks sustain a risk premium, energy prices should find firm support at current elevated levels.