Article By Newser
He predicts Iran war will end ‘immediately after the election’
President Trump said Wednesday that oil prices that have surged because of the Iran war likely won’t come down until after the midterm elections. Oil prices jumped more than 3% on Wednesday, pushing international Brent crude past the $100 threshold for the first time since July as salvos between the US and Iran escalated, the AP reports. “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.” 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 US.
“I think the war’s going to end immediately after the election because they can’t hold out any longer,” Trump said. He also suggested, however, that Iranians are hoping for Republican losses, CNBC reports. “They’re desperate to try and affect the election, so that we can get a nice weak group of people in there, and leave them alone and let them have their nuclear weapon,” Trump said. At the outset of the war, the president said it would last a matter of weeks. The conflict is now in its seventh month.
The average price for a gallon of regular gasoline ticked up 7 cents overnight to hit $4.22, now more than a dollar above what it cost at this point last year, according to AAA. Diesel prices, which can have an outsize impact on consumers because it is used in shipping and production, hit an all-time high Friday and have continued to climb since. Oil prices rose after the US military reported striking five Iranian tankers in response to attempted missile attacks on a Navy warship and after attacks by an Iranian-backed Houthi rebel group ignited fires at oil facilities in Saudi Arabia.
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