Trump Predicts Oil Prices Won't Tumble Until After Midterms
President Donald Trump said oil prices are unlikely to decrease until after the US midterm elections in November. The current conflict between the US and Iran has led to a significant surge in oil prices, with international Brent crude reaching its highest point since July.
The president stated that the war will likely end immediately after the election because Iran cannot hold out any longer. He also claimed that the Iranians are desperate to affect the outcome of the elections by leaving them alone and allowing them to develop a nuclear weapon.
Trump's comments come as oil prices continue to rise, with US benchmark crude standing at around $96 a barrel. The average price for a gallon of regular gasoline has reached $4.22, while diesel prices have hit an all-time high.