Houthi Threat Pushes Oil Prices Higher Amid Election Fears

A House Foreign Affairs hearing is examining the growing Houthi threat to US interests and Red Sea shipping, which is pushing oil prices higher. This could mean pricier gasoline for Americans, as well as higher inflation fears driving up Treasury yields and mortgage rates. The impact of these rising costs on voters' decisions in November's election is a concern.

The hearing comes as gas prices are already affecting consumers. In Austin, Texas, a 7-Eleven station displayed $3.07 per gallon on August 7th, 2026. This increase may influence Americans' voting choices, with the price of gas being a significant factor in their decisions.