US Diesel Supplies Slump To 23-Year Lows; Oil Prices Lower After Trump's Comments, SPR Drain Oil prices extended losses this morning as investors weighed the Democratic sweep of Congress in the Midterms and what it means for President Trump's approach to Iran, amid uncertainty over whether Washington will pursue diplomacy or renew military strikes.
Specifically, the results could introduce additional constraints on Trump's agenda , particularly around funding overseas military operations and other foreign policy commitments. Additionally, Qatar said Tuesday that mediation between Washington and Tehran was continuing, with both sides reviewing proposals exchanged through intermediaries, and f or now, Trump said he had no immediate plans for launching more strikes on Iran.
“We’re locked and loaded if we need to go, but there may be no reason for it,” he said in an interview with the Financial Times. But for now, all eyes are on the inventory and supply data...