Oil Crashes 9% as Trump and Vance Blame Iran War for Midterm Rout

m. ET on Wednesday, after touching its lowest level since September 4, with traders pricing an end to the Iran war after the White House tied Tuesday’s midterm losses to the conflict. 08. Brent traded near $118 on Friday. Trump told Fox News on Tuesday night that “I think it’s the gasoline price” when explaining the Republican defeat.

” Trump had already told the Financial Times that Washington had no immediate plans to strike Iran. BOK Financial’s Dennis Kissler said rising Middle East exports and Trump’s comments were keeping pressure on crude. S. military spending in the region and bring a peace deal sooner. Enverus’ Carl Larry warned that an escalation in Iran could come before a resolution.