Trump: Rising oil prices only temporary, 'small price to pay' for peace
The issue of affordability has loomed over the congressional midterm elections.

Ed Morse, Senior Adviser at Hartree Partners, talks about why oil prices are rising faster than gasoline prices. Pump prices are now at their highest level at any time under President Donald Trump. (Source: Bloomberg)
The issue of affordability has loomed over the congressional midterm elections.
The president's comments come as the prices of both crude oil and gasoline surge amid the war with Iran.
The attack on Iran has led to a surge in energy prices at a moment when the cost of living is a major issue heading into the fall elections.
Senate Democratic Leader Chuck Schumer (N.Y.) on Sunday called on President Trump to immediately release oil from the Strategic Petroleum Reserve amid rising oil and gas prices caused by the military conflict in Iran. Oil prices jumped to nearly $120 a barrel before dropping some on Monday as missile strikes on Iran and Tehran’s retaliatory…
On Monday, the U.S.–Israel war with Iran pushed oil prices to their highest level since July 2022. Since the war...