Oil prices surged as OPEC+ postponed its Dec production hike, pushing Brent to $75.04 & WTI to $71.48. Weak demand from China, the world's largest oil importer, weighs on the market, with China’s Congress expected to announce up to $1.4T in stimulus. A weaker USD ahead of the U.S. elections and escalating Iran-Israel tensions add volatility, with risks to oil infrastructure in focus.

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Oil surged 1.8% on reports of Iran preparing to strike Israel from Iraq, adding to regional tensions. Brent at $74.11/bbl and WTI at $70.61. OPEC+ may delay December’s production hike due to soft demand, with a decision expected next week. The U.S. election and China’s economic measures could also impact oil prices, as China’s manufacturing activity showed growth in October due to stimulus efforts.

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