The surge in oil prices caused by the US and Israeli operation against Iran has sent the US administration into a state of panic, APA reports citing CNN.
According to their information, US President Donald Trump's advisers expected a short-lived rise in oil prices in the first days of hostilities, but the actual scale of the market reaction caught them off guard. The US administration initially hoped to use the drop in gasoline prices as a key argument in favor of the Republican Party ahead of the November midterm elections, CNN notes. However, when oil prices exceeded $100 per barrel, it became clear that the steps taken by US authorities had failed to allay fears of a protracted energy crisis, the television network notes.
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