Iran’s Security Chief Mohsen Rezaee said on Wednesday that Tehran had inflicted a political defeat on President Donald Trump, portraying the Republicans’ losses in the midterm elections as another consequence of Washington’s war with Iran.
Tehran Defeated U.S. Politically
In a post on the social media platform X, Rezaee criticized President Donald Trump amid tensions. “The Iranian nation handed Trump a strategic defeat on the battlefield and in the [Strait of] Hormuz.”
Rezaee, a close aide to Iran’s Supreme Leader Ayatollah Mojtaba Khamenei, also said that Trump suffered a “POLITICAL DEFEAT in Washington” at the hands of Iran.
“Meanwhile, Americans got stuck with the bill for his war,” Rezaee said, pointing to rising inflation in the U.S. “Anyone who takes on Iran will pay the price—from the battlefield to their own doorstep,” Rezaee warned in his post.
Trump, following the midterm elections, acknowledged that high fuel prices were detrimental to the Republican Party’s bid during the polls. He also said that high gas prices were caused by Iran.
Notably, the President also touted the U.S. holding control over roughly 50% of the world’s crude oil supply, including the Venezuelan reserves. He also said that U.S.’s crude supply exceeds Saudi Arabia and Russia.
Iran War Updates
The comments come as the Trump administration is reportedly weighing resuming combat operations against Iran following Tehran’s celebration of the setbacks incurred by the GOP during the midterm elections.
Iran’s Parliament Speaker Mohammad Bagher Ghalibaf, following the results, said that the American voters had rejected the war with Iran and warned against escalations. Notably, reports had earlier emerged of the U.S. conducting strikes on Iran’s Qeshm Island in the recent weeks.
Oil, Gas Movement
At press time, oil futures were down as the U.S. West Texas Intermediate (WTI) futures expiring in December fell 0.35% to $87.81. However, Brent futures contracts expiring in January gained 0.36% to $94.96.
On the ETF front, the ProShares Ultra Bloomberg Crude Oil (NYSE:UCO) ETF fell 1.51% to $52.20 during overnight trading on Wednesday. The United States Oil Fund (NYSE:USO) ETF also slipped 0.97% to $144 during overnight trading.
According to data collected by the American Automobile Association (AAA), the national average price of gas was $4.1239/gallon on Wednesday.
On the diesel front, the national average price remained above $6/gallon at $6.2748, which is a slight decline from Tuesday’s $6.2875/gallon.
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