Tech · EU Weekly
US President Donald Trump has said he does not think the Iran war will end until after November's midterm elections, predicting oil prices will remain elevated due to ongoing tensions. "I think the war's going to end immediately after the election because they can't hold out any longer," Trump stated of Tehran on Wednesday. His comments follow a rise in oil prices to $100 (£74) for the first time since July, attributed to increased Middle East fighting.
"Right after the election, oil prices are going to be tumbling downward," Trump said, though he added it might take a little longer than the midterms. He suggested Iran is "desperate to try and affect the election, so that we can get a weak group of people in there," referencing Democrats, and hinted at potential future negotiations, though they are "not something we're looking at." Trump initially predicted the war would last weeks but now faces a steep decline in approval ratings due to the conflict's impact on gas and grocery prices. The US military recently attacked five oil tankers linked to Iran, while Iran retaliated by launching attacks on US Navy destroyers and eight tankers in the Strait of Hormuz.
Additionally, Iran-backed Houthis in Yemen struck Saudi Arabia's oil facilities, reigniting fighting after a 60-day ceasefire expired last month. Rising fuel costs could lead to higher US interest rates.
Source: BBC
