Trump Predicts Post-Midterm Oil Price Decrease, Iran Concession

Why it matters locally: Fluctuations in oil prices can impact fuel costs for Kansas consumers and agricultural operations, which rely heavily on transportation. Federal policy shifts regarding Iran could indirectly affect global oil markets.

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.