Asia Hopes U.S. Midterm Results Will Ease Energy Crisis

S. midterms will lead to an end to the war in the Middle East and, consequently, an end to the severe fuel crisis Asian countries are experiencing. The hopes may be premature, however. Trump is still president, and Democrats are no fans of Iran. S. and Israel offensive against Iran that began on February 28.

For geographical reasons, the Middle East is the top supplier of hydrocarbons to Asia. With that supplier largely gone for an extended period of time, Asian countries were scrambling to secure alternativesat higher prices. This brought inflation and boosted government spending to try and shield the economy from the worst of the fallout. Last month, the World Bank warned that, essentially, Asia was running out of money because of the energy crisis.