WASHINGTON (AP) — President Donald Trump said Wednesday that oil prices that have surged because of the Iran war likely won't come down until after U.S. midterm elections.
Oil prices on Wednesday jumped more than 3%, pushing international Brent crude past the $100 threshold for the first time since July as salvos between the U.S. and Iran escalated.
"Right after the election, oil prices are going to be tumbling downward," Trump said. "I think it's going to take a little bit longer than the midterm."
The comments were a striking acknowledgment from Trump about the conflict as his Republican administration faces mounting pressure to address high gas prices as the war in Iran grinds on with no conclusion in sight.
Trump, in an exchange with reporters before traveling to Dallas for the midterm Republican convention, added that he believes Iran will finally relent after the pivotal elections are held in the U.S.
#midterm
Oil prices on Wednesday jumped more than 3%, pushing international Brent crude past the $100 threshold for the first time since July as salvos between the U.S. and Iran escalated.
"Right after the election, oil prices are going to be tumbling downward," Trump said. "I think it's going to take a little bit longer than the midterm."
The comments were a striking acknowledgment from Trump about the conflict as his Republican administration faces mounting pressure to address high gas prices as the war in Iran grinds on with no conclusion in sight.
Trump, in an exchange with reporters before traveling to Dallas for the midterm Republican convention, added that he believes Iran will finally relent after the pivotal elections are held in the U.S.
#midterm
1 day ago
