Trump says oil and gas prices will not fall until after US midterm elections
The president linked elevated energy prices to the Iran war and said they would not come down until “right after” the midterm elections.
President Donald Trump said oil and gas prices elevated by the Iran war would not fall until “right after” the US midterm elections, according to CNBC.
Trump’s forecast ties the timing of lower energy prices to the period immediately following the elections. The supplied report does not specify which midterm elections he meant or the basis for his estimate.
The comments came as Brent crude was reported to have reached US$100 a barrel amid Iran-US tensions. Rising oil prices have also fuelled concern about inflation and possible Federal Reserve action.
US Treasury yields were reported higher, with the two-year yield reaching 4.42% and the 10-year yield around 4.8%. No Federal Reserve rate rise was confirmed in the supplied material.
Trump’s comments are a forecast rather than an independently verified outlook for energy prices.
