News

Politics

On HALO

4 days ago

Republicans face ticking midterm clock as Iran fallout keeps pressure on gas prices

As the Trump administration weighs diplomacy and military pressure against Iran, a political clock is ticking at home.Even if the Strait of Hormuz — the global oil choke point largely shuttered since the conflict with Iran due to Iranian attacks — reopened immediately, it could take months for oil flows to return due to logistical bottlenecks involving trapped tankers, swollen inventories and damaged oil infrastructure, according to Kpler oil analyst Matt Smith, pushing normalization of global energy markets closer to the Nov. 3 midterm elections. "It's then going to take until the fourth quar...