Trump Links Midterm Elections to Energy Price Relief

President Donald Trump's comments on oil prices have sparked interest in the market. He reportedly said that energy prices elevated by the Iran war are unlikely to come down until after the midterm elections, which are nearly two months away.

Trump also predicted that oil prices will tumble 'right after the election' and gasoline prices will eventually fall below $2 a gallon.

The Brent crude futures climbed above $102 per barrel, while U.S. West Texas Intermediate futures surpassed $96 on Wednesday.

A senior official from Iran stated that Tehran is ready for a more intense war and will escalate counterstrikes if the U.S. continues attacking its territory and infrastructure.