The Korea Times
There’s still more political fallout for the GOP courtesy of the Iran war: Even if the conflict ends soon, voters could be grappling with pain at the gas pump deep into midterm election season, as Republicans struggle to defend razor-thin majorities in Congress. The influence American presidents have on oil markets is often difficult to discern. But in the case of President Donald Trump, the impact of his decision to team up with Israel for ongoing military strikes on Iran has been plain to see. With the war and the resulting closure of the Strait of Hormuz heading into week six, crude oil is trading north of $100 per barrel. Americans, still beset by anxiety over the cost of living, are now paying more than $4 per gallon on average for gasoline, compared to roughly $3 per gallon before Operation Epic Fury started on Feb. 28. That has erased a lone bright spot on affordability for the Trump administration, one rarely disputed even by Democrats. And when it comes to the cost of a barrel of oil, what is easily done is not easily undone, as Neale Mahoney, director of the Stanford Instit
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