Trump Predicts Post-Midterm Oil Price Decrease, Iran Concession

Why it matters locally: A decrease in oil prices could lead to lower gasoline and heating oil costs for Rhode Island consumers and businesses, impacting household budgets and transportation expenses across the state.

President Donald Trump indicated on Tuesday he anticipates a reduction in oil prices after the November midterm elections. He also offered the view that Iran will ultimately 'relent' following the conclusion of the pivotal U.S. elections. Trump made these statements during a conversation with reporters. The exchange occurred before he departed for Dallas, where he attended the midterm Republican convention.