Oil prices fell hard on Wednesday, dropping by about $8 a barrel. Traders say they are betting that the midterm results will push the White House to look for a way out of the war with Iran. A widely shared post by Vice President JD Vance helped drive the slide.
\n\nIn his post on X, Vance wrote that everyone knows the war is the reason Republicans took such a beating at the polls. He added that any honest talk about what comes next has to begin with that fact. Markets seemed to read it as a signal that the administration may be softer on the conflict than before, and prices dropped further after it spread.
\n\nA strategist at the hedge fund Marshall Wace, Seb Barker, gave the Financial Times a similar view. He said the market now expects members of Congress, and even people inside Trump’s own administration, to act as a brake on the war.
\n\nThe key question is whether the White House acts on the political warning. If Trump moves toward a deal, the market’s bet could prove right. If he holds his ground or escalates, the relief in oil prices could fade quickly.
\n\nSagar is a journalist…
Original source: https://www.timesnownews.com/delhi
