A year ago, oil was at about $58 a barrel.
In March, President Trump started a military action in Iran.
By early April, oil prices almost doubled, to about $113 a barrel.
Last month, when it looked like the action might be coming to an end, oil dropped down to about $68 a barrel.
But since then, despite more and more oil passing through the Strait Of Hormuz, oil has jumped back through the roof, and currently is about $102 a barrel.
Midterm elections are going to take place in about a month and a half.
If Trump and Republicans want to have a realistic shot at keeping control of the House of Representatives – maybe the Senate as well – I would think that oil has to drop back a good deal from where it is now.
How will that happen? Will that happen? Stay tuned.
