Trump Predicts Oil Prices Won't Tumble Until After Midterms

President Trump stated on Wednesday that oil prices will not decrease until after the US midterm elections. The president's comment comes as oil prices have surged over the past week due to the escalating conflict with Iran.

Oil prices jumped more than 3% on Wednesday, pushing international Brent crude above $100 for the first time since July. Trump believes that the war will end immediately after the election because Iran cannot hold out any longer.

The president's comments were a striking acknowledgment of the conflict's impact on the economy. He added that he thinks the war will be over quickly, but it has already lasted seven months and has had a significant impact on global energy markets.