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

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.
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)
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…
War-risk insurance costs surge as conflict threatens oil shipments through Strait of Hormuz, potentially driving up gas prices for American consumers.
Oil prices jumped above $100 per barrel Monday as President Donald Trump promised prices would drop after the joint U.S.-Israeli military operation targeting Iran’s “nuclear threat” concludes. Global benchmark Brent crude rose as high as $118 per barrel Monday morning before retreating to around $104, more than $10 above Friday’s close. It marked the first…