Strikes Iran's Qeshm Island Hours Before Midterm Election

Airstrikes by the U.S. hit Iran’s Qeshm Island and nearby coastal areas, including Bandar Lengeh, just hours before the November 3 midterm elections, according to the report. The moves followed two encounters on November 2 involving Iran’s Islamic Revolutionary Guard Corps (IRGC), including an IRGC surface-to-air missile fire at a U.S. fighter jet and the interception of another missile launched from Qeshm toward commercial ships in the Strait of Hormuz. Qeshm hosts IRGC sites such as underground missile storage, naval bases and coastal radar. Brent rebounded about 2.21% to $106.98. Bitcoin fell roughly 2.18% to around $76,816. Institutional Bitcoin ETF flows showed $398.6 million in net outflows on November 2.