Oil is approaching the psychologically important $100-a-barrel price. Americans are already paying record-high prices for the Labor Day period. This could become a political problem for Trump and the Republican Party as the November midterm elections loom. At the time of writing, Brent futures briefly hit $100 a barrel. The US West Texas Intermediate was around $94.13 on Wednesday (Sep 9). Brent has risen about 25 per cent since early August as renewed fighting with Iran crushed hopes of an end to the six-month conflict. Reports suggested that oil could hit $100 as early as Friday. Here is why it matters for Trump's midterm prospects.&nbsp;<h2>The Iran war is showing up at the pump for Americans</h2>Trump returned to office promising an energy boom, lower prices and inflation relief. The US military adventure in Iran upended these plans, emerging as a major source of uncertainty for the global oil market. Much of the Gulf's critical energy infrastructure is under attack or threat, caused by US strikes, Iranian attacks on Gulf energy infrastructure, and Houthi hits on Saudi targets. Oil shipping is disrupted from the Strait of Hormuz to the Red Sea and further afield. &nbsp;Iran conflict is leading to supply fears, causing higher crude prices and renewing inflation pressure on the US.Also read: <a href="https://www.wionews.com/world/brent-crude-hits-100-per-barrel-after-seven-weeks-as-tension-in-middle-east-escalates-1788940129398">Brent Crude hits $100 per barrel after seven weeks as tension in Middle East escalates</a><h2>$4 gasoline is already a political problem</h2>The national average price of regular gasoline was about $4.15 a gallon around Labor Day, according to the American Automobile Association (AAA), a record for this holiday period. AAA said the national average never exceeded $4 on Labor Day. For diesel prices, the national average climbed to a record of roughly $5.85-$5.90 a gallon. Diesel also powers much of America's freight, agriculture, construction and rail economy. And that could contribute to the inflation problem, as higher diesel and petrol prices hurt household budgets.&nbsp;<a href="https://www.wionews.com/videos/goldman-warns-brent-could-top-120-again-wion-news-world-business-watch-1784783515303/embed">https://www.wionews.com/videos/goldman-warns-brent-could-top-120-again-wion-news-world-business-watch-1784783515303/embed</a><h2>Oil prices spike: The timing could hardly be worse for Republicans</h2>Republicans are entering the midterms with narrow margins, even as a Reuters/Ipsos poll put Trump approval ratings at just 33 per cent, with only 25 per cent of Americans saying the Iran war is worthwhile. A Financial Times/Focaldata survey found that 57 per cent of voters felt financially worse off under Trump. That is precisely why petrol prices are so dangerous politically.Republicans have spent years telling voters that Democratic policies were responsible for expensive petrol, but that won't wash this election season.Democratic candidates have been using gas prices as a political weapon against Republican incumbents, linking Trump's Iran policy to higher cost of living for Americans.Also read: <a href="https://www.wionews.com/world/oil-prices-jump-over-3-brent-tops-86-after-us-says-it-intercepted-iranian-missile-attack-1785285962484">Oil prices jump over 3% after US says it intercepted Iranian missile attack</a><h2>How oil prices historically affected the prospects of the ruling party</h2>A 2026 Morgan Stanley analysis found that since 1978, midterm cycles in which gasoline prices rose from January of the previous year through October of the election year were associated with an average loss of 32 House seats for the incumbent party, as opposed to lower prices, in which case the average loss was six seats. A TIME analysis said that in the three midterms in which inflation-adjusted oil prices were around or above $100 a barrel, the ruling party lost an average of 29 House seats. An energy shock just ahead of midterms is a scary prospect for the incumbent party.<h2>A looming inflation: Why Trump needs to bring down gas prices</h2>If gasoline prices fall dramatically in October, Trump - who put himself at the centre of the Republican campaign - can point to the decline as evidence that his administration's strategies worked. But if they still hover around $4 or higher, Democrats will be able to tell voters that Trump's war made energy more expensive.But will the market correct itself? Brent repeatedly approached $100 in past months without decisively breaking through it. So far, whatever oil is passing via Hormuz, alternative export routes, rising production outside OPEC and weaker Chinese demand have prevented a larger price shock.But if prolonged disruptions to oil shipments cause Brent to remain around $100, the pinch at the pump could persist. And that could translate into anger against Trump and the Republicans at the elections.

US oil prices are near $100 once again as the Iran conflict disrupts energy supplies. The pinch at the pump and looming inflation could become a political headache for Trump and Republicans ahead of the midterms. Here is how

Oil is approaching the psychologically important $100-a-barrel price. Americans are already paying record-high prices for the Labor Day period. This could become a political problem for Trump and the Republican Party as the November midterm elections loom. At the time of writing, Brent futures briefly hit $100 a barrel. The US West Texas Intermediate was around $94.13 on Wednesday (Sep 9). Brent has risen about 25 per cent since early August as renewed fighting with Iran crushed hopes of an end to the six-month conflict. Reports suggested that oil could hit $100 as early as Friday. Here is why it matters for Trump's midterm prospects. The Iran war is showing up at the pump for Americans Trump returned to office promising an energy boom, lower prices and inflation relief. The US military adventure in Iran upended these plans, emerging as a major source of uncertainty for the global oil market. Much of the Gulf's critical energy infrastructure is under attack or threat, caused by US strikes, Iranian attacks on Gulf energy infrastructure, and Houthi hits on Saudi targets. Oil shipping is disrupted from the Strait of Hormuz to the Red Sea and further afield. Iran conflict is leading to supply fears, causing higher crude prices and renewing inflation pressure on the US. Also read: Brent Crude hits $100 per barrel after seven weeks as tension in Middle East escalates $4 gasoline is already a political problem The national average price of regular gasoline was about $4.15 a gallon around Labor Day, according to the American Automobile Association (AAA), a record for this holiday period. AAA said the national average never exceeded $4 on Labor Day. For diesel prices, the national average climbed to a record of roughly $5.85-$5.90 a gallon. Diesel also powers much of America's freight, agriculture, construction and rail economy. And that could contribute to the inflation problem, as higher diesel and petrol prices hurt household budgets. https://www.wionews.com/videos/goldman-warns-brent-could-top-120-again-wion-news-world-business-watch-1784783515303/embed Oil prices spike: The timing could hardly be worse for Republicans Republicans are entering the midterms with narrow margins, even as a Reuters/Ipsos poll put Trump approval ratings at just 33 per cent, with only 25 per cent of Americans saying the Iran war is worthwhile. A Financial Times/Focaldata survey found that 57 per cent of voters felt financially worse off under Trump. That is precisely why petrol prices are so dangerous politically. Republicans have spent years telling voters that Democratic policies were responsible for expensive petrol, but that won't wash this election season. Democratic candidates have been using gas prices as a political weapon against Republican incumbents, linking Trump's Iran policy to higher cost of living for Americans. Also read: Oil prices jump over 3% after US says it intercepted Iranian missile attack How oil prices historically affected the prospects of the ruling party A 2026 Morgan Stanley analysis found that since 1978, midterm cycles in which gasoline prices rose from January of the previous year through October of the election year were associated with an average loss of 32 House seats for the incumbent party, as opposed to lower prices, in which case the average loss was six seats. A TIME analysis said that in the three midterms in which inflation-adjusted oil prices were around or above $100 a barrel, the ruling party lost an average of 29 House seats. An energy shock just ahead of midterms is a scary prospect for the incumbent party. A looming inflation: Why Trump needs to bring down gas prices If gasoline prices fall dramatically in October, Trump - who put himself at the centre of the Republican campaign - can point to the decline as evidence that his administration's strategies worked. But if they still hover around $4 or higher, Democrats will be able to tell voters that Trump's war made energy more expensive. But will the market correct itself? Brent repeatedly approached $100 in past months without decisively breaking through it. So far, whatever oil is passing via Hormuz, alternative export routes, rising production outside OPEC and weaker Chinese demand have prevented a larger price shock. But if prolonged disruptions to oil shipments cause Brent to remain around $100, the pinch at the pump could persist. And that could translate into anger against Trump and the Republicans at the elections.

US oil prices are near $100 once again as the Iran conflict disrupts energy supplies. The pinch at the pump and looming inflation could become a political headache for Trump and Republicans ahead of the midterms. Here is how

US oil prices at $100 could be bad news for Trump ahead of midterm elections

Brent North Sea crude, the international oil benchmark, climbed above $100 a barrel on Wednesday (September 9) for the first time since late July, as renewed tensions in the Middle East raised concerns over global supplies. Brent prices surged more than 2% to $100.19 a barrel before easing slightly to $99.90. The sharp rise has also fueled concerns that higher energy costs could add to inflationary pressures.&nbsp;Brent crude futures rose $2.15, or 2.2%, to $100.07 a barrel, while US West Texas Intermediate crude gained $1.70, or 1.83%, to $94.73. Brent has climbed roughly 25% since early August as hopes for a permanent resolution to the six-month-old US-Iran conflict have faded. The latest surge has been fuelled by growing concerns that the conflict could spread across the Middle East and disrupt key oil-supply routes.&nbsp;Also Read:<a href="https://www.wionews.com/world/us-oil-prices-might-hit-100-and-it-could-be-bad-news-for-trump-ahead-of-midterms-1788938670443"> US oil prices at $100 could be bad news for Trump ahead of midterm elections</a>&nbsp;This week, attacks by Iran-backed Houthi forces on Saudi energy facilities set oil installations ablaze, raising fears of a significant widening of the conflict. The attacks could also threaten crude shipments through the Red Sea, an important alternative route to the Strait of Hormuz. Oil flows through Hormuz, one of the world's most critical energy chokepoints, have been severely disrupted since the Iran war satrted on February 28.&nbsp;&nbsp;Before fighting resumed on August 30, around 8 million to 9 million barrels per day had moved through the strait, according to Rystad Energy Chief Economist Claudio Galimberti. That was roughly twice the previous week's volume. More recently, however, flows have fallen below 2 million barrels per day. The supply risks have prompted a growing number of major banks, including Goldman Sachs, Bank of America and HSBC, to raise their forecasts for crude prices in recent days.

Brent crude surpasses $100 a barrel as renewed Middle East tensions raise supply concerns, pushing oil prices higher and fueling inflation fears

Brent North Sea crude, the international oil benchmark, climbed above $100 a barrel on Wednesday (September 9) for the first time since late July, as renewed tensions in the Middle East raised concerns over global supplies. Brent prices surged more than 2% to $100.19 a barrel before easing slightly to $99.90. The sharp rise has also fueled concerns that higher energy costs could add to inflationary pressures. Brent crude futures rose $2.15, or 2.2%, to $100.07 a barrel, while US West Texas Intermediate crude gained $1.70, or 1.83%, to $94.73. Brent has climbed roughly 25% since early August as hopes for a permanent resolution to the six-month-old US-Iran conflict have faded. The latest surge has been fuelled by growing concerns that the conflict could spread across the Middle East and disrupt key oil-supply routes. Also Read: US oil prices at $100 could be bad news for Trump ahead of midterm elections This week, attacks by Iran-backed Houthi forces on Saudi energy facilities set oil installations ablaze, raising fears of a significant widening of the conflict. The attacks could also threaten crude shipments through the Red Sea, an important alternative route to the Strait of Hormuz. Oil flows through Hormuz, one of the world's most critical energy chokepoints, have been severely disrupted since the Iran war satrted on February 28. Before fighting resumed on August 30, around 8 million to 9 million barrels per day had moved through the strait, according to Rystad Energy Chief Economist Claudio Galimberti. That was roughly twice the previous week's volume. More recently, however, flows have fallen below 2 million barrels per day. The supply risks have prompted a growing number of major banks, including Goldman Sachs, Bank of America and HSBC, to raise their forecasts for crude prices in recent days.

Brent crude tops $100 a barrel for the first time since July as renewed Middle East tensions fuel supply concerns and inflation fears

Brent Crude hits $100 per barrel after seven weeks as tension in Middle East escalates

Ukraine has launched one of its deepest attacks yet, striking Russia's largest refinery in Siberia, nearly 2,500 km from the border, dealing a major blow to Moscow's fuel infrastructure. The attack comes as Russia intensifies missile and drone strikes against Ukraine, with President Vladimir Putin warning of even stronger retaliation.

At the same time, tensions in the Strait of Hormuz continue to escalate as the United States and Iran exchange strikes for a third consecutive night. Rising attacks on energy infrastructure and commercial shipping have pushed global oil prices sharply higher, raising fears of inflation, supply disruptions, and a possible global economic slowdown.

Ukraine destroys Russia’s largest refinery as Hormuz crisis explodes| Putin threatens bigger strikes

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US oil prices at $100 could be bad news for Trump ahead of midterm elections

Brent Crude hits $100/barrel after 7 weeks as tension in Middle East escalates

Ukraine destroys Russia’s largest refinery as Hormuz crisis explodes| Putin threatens bigger strikes