Trump Links Iran War to Midterms, Predicts Oil Price Crash
US President Donald Trump has tied the ongoing Iran war to the upcoming US midterm elections. He predicted that the war will end 'immediately after the election'. Trump claimed that 'they can't hold out any longer', implying that Iran's actions are a desperate attempt to affect the election outcome.
The comments were made as global benchmark Brent crude futures traded above $101 per barrel for the first time since July. US West Texas Intermediate futures surpassed $96 per barrel at session highs. The U.S. military has destroyed 10 Iranian tankers in the last week, while Iran's Revolutionary Guard took credit for destroying oil tankers in the Persian Gulf.
Trump also predicted that oil prices will 'tumble downward' shortly after the election. However, he conceded that it may take a little longer than the midterm for gas prices to fall. Gas prices have surged due to the conflict, with the average price nationwide now at $4.22 per gallon and diesel prices hitting a record $5.94 per gallon.
The US military has also confirmed destroying 10 Iranian oil tankers in retaliation for attempted Iranian missile attacks on Navy warships. Iran fired 20 ballistic missiles at American forces stationed at the Al-Azraq air base in Jordan, but all personnel were accounted for after the attack.