Oil And Gas Prices Ease After Donald Trump’s Defeat, Castellón Warns Over Iran Conflict: how 21 outlets framed it
This article is an automated aggregation of coverage from news outlets.
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Brent crude and WTI fell significantly after Trump's midterm defeat. Castellón gas prices fell below 90 euros/MWh after earlier spikes.
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Oil and gas markets reacted to the midterm results, with natural gas prices easing after Donald Trump’s defeat and falling below 90 euros per megawatt at the TTF trading center.
The Castellón ceramic industry tied the relief to the Democratic Party’s victory in the U.S. House of Representatives and the Senate, describing it as a halt to a recent surge.
The Castellón report said gas stood at 88 euros this Tuesday, after alarms rose when the price surpassed the 100 euro barrier.
The report also linked the earlier energy spike to the “unilateral attack alongside Israel on Iran,” which it said left the Strait of Hormuz unusable and triggered an inflationary spiral by stopping 20% of world oil traffic.
The report warned that the duration of the Middle East conflict and the high cost of gas worried the sector, even as it said employment “has not yet been affected.”
Donald Trump said the war with Iran drove gas prices up “a bit in the short term,” while he argued that “it’s the only long-term solution” and that “We cannot allow Iran to possess a nuclear weapon.”
J.D. Vance wrote that “the war (in Iran) was the reason” for the Republicans’ defeat, and he added that “Everyone knows why we lost.”
Iranian leaders framed the midterm outcome as a repudiation of the war, with Mohammad Bagher Ghalibaf urging Trump to accept “the verdict of America” and publishing, “Whether driven by conscience or the cost of living, America said no to war and we endorse this message.”
The next Congress was described as likely to face limits on immediate foreign policy change, with Michelle Brouhard saying “Democratic victory could limit Trump's room to maneuver in Congress, though its effects on foreign policy will not be immediate.” Clarin reported that the new Congress would not be sworn in until January 3, leaving the Republican administration “almost two months” to push through new military or diplomatic initiatives. The Castellón report said TTF forecasts indicated gas prices would remain above 80 euros until the second half of the year, and it said the industry had hoped for a turn down in the second half of 2026 that did not occur.
Al Hurra said the Democrats’ sweep could extend to “the Middle East files that are most sensitive,” with the war with Iran, Gulf security, and aid to Israel, Egypt, and Jordan facing “new legislative scrutiny and pressure” that could narrow the Trump administration’s room to maneuver.