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US midterms: Polls show Democrats ahead in battle for Congress

Democrats lead Republicans in national polling ahead of Tuesday's United States midterm elections, with new surveys showing the party gaining ground in several closely contested Senate races as voters express dissatisfaction with President Donald Trump's handling of the economy. With all 435 House of Representatives seats and 35 Senate seats on the ballot, the elections will determine whether Republicans retain control of Congress for the remaining two years of Trump's second term. A RealClearPolling average of surveys conducted through October 30 shows Democrats leading Republicans 52% to 43.1% on the generic congressional ballot, an 8.9-percentage-point advantage. An NBC News survey conducted October 28-30 found Democrats ahead 52% to 45%, while an Emerson College poll conducted October 24-26 put the gap at 10 points. The generic ballot measures nationwide preferences for congressional candidates rather than support in individual districts, meaning a nati...
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Oil dips from seven-week high on cautious outlook

Oil prices edged down on Thursday, retreating from the previous session's seven-week high, as some investors took profits after US stocks closed lower and in anticipation of slower winter demand as well as the return of Kurdish supplies. Brent futures were down 49 cents, or 0.7%, to $68.82 a barrel at 0825 GMT, while US West Texas Intermediate futures were down 54 cents, or 0.8%, to $64.45 a barrel. Both benchmarks gained 2.5% on Wednesday to reach their highest since August 1, driven by a surprise drop in US weekly crude inventories and concerns that Ukraine's attacks on Russia's energy infrastructure could disrupt supplies. "We have a generally risk-off market," said Giovanni Staunovo, commodity analyst at UBS. Two consecutive down days for US stocks are putting pressure on oil prices, he added. Bearish expectations on supply fundamentals, with more oil expected soon from Iraq and Kurdistan, weighed further. "The return of Kurdish supplies adds back fears of an oversupply narrative, propelling a pullback in prices that hover near a seven-week high," said Priyanka Sachdeva, senior market analyst at Phillip Nova. Oil flows from Iraqi Kurdistan were expected to restart in days after eight oil firms struck a deal on Wednesday with Iraq's federal and Kurdish regional governments to resume exports. While some market concerns remain on Russian supply disruptions, Haitong Securities said in a report that another factor behind oil's resilience was the lack of significant downward pressure from supply–demand fundamentals in recent weeks. As the peak demand season gradually ends, prices have yet to reflect expectations of mounting oversupply pressures, it added. Underscoring investor cautiousness on demand, J.P. Morgan analysts said on Wednesday that US air passenger throughput for September indicated only a modest annual increase of 0.2%, a slowdown from growth of 1% in each of the two prior months. "Likewise, US gasoline demand has started to pull back, mirroring the broader moderation in travel trends," the analysts said in a report.

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