Brent crude plunges 10% after Trump midterm rebuke
Prospects for fuel price cuts by December.
President Trump is facing a difficult decision after his party suffered a significant loss in the midterm elections. He must choose between ending the war in Iran, negotiating a deal with Iran, or continuing to impose sanctions in hopes of pressuring Tehran. All of Trump's options have their drawbacks. Resuming airstrikes would be unpopular and likely lead to high gas prices without improving military outcomes.
Negotiating a deal is risky, as Iran may demand concessions or become more assertive if they sense weakness. Strangling Iran with the current sanctions could take months to show results. Trump has been under pressure from Vice President Mike Pence, who blamed the war for the GOP's electoral defeat and warned that continued conflict would harm Republicans for years to come.
The vice president's comments have added a new political dimension to Trump's decision-making process. Trump has acknowledged the war's impact on his party's electoral performance and has admitted that he has no choice but to end it, but he insists that it must be done correctly to prevent Iran from acquiring a nuclear weapon. While the U.S. military is preparing for a possible resumption of major combat operations in Iran, Qatari mediators are working to secure a deal that would avoid further conflict and potentially restart direct talks.
Iran has celebrated Trump's electoral loss and is gloating about its military gains and political victories. Diplomats involved in the mediation efforts fear that Iran's inflated sense of self-worth may lead them to overestimate their leverage, and they urge Trump to maintain the status quo, tightening the noose on Iran through sanctions.
Written by urgent.news from Axios's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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