On this day in 2012, WTI Crude was $106.17 - $12 higher than today. Obama was re-elected and the Democrats actually GAINED 8 seats in the House.
In the election just two years before, in 2010:
{Wikipedia 2010 House Elections} Republicans regained control of the U.S. House they had lost in the 2006 midterm election, picking up a net total of 62 seats and erasing the gains Democrats made in 2006 and 2008. Although the sitting president’s party usually loses seats in a midterm election, the 2010 election resulted in the highest losses by a party in a House midterm election since 1938, as well as the largest House swing since 1948. In total, 52 House Democrats were defeated, including 36 freshman and sophomore representatives.
This left the democrats with 193 seats, down from 257 in 2008. In 2012, as you stated, the democrats picked up 8 seats. They still only had 199, while the Republicans had 234 after the 2012 elections. Also, the Senate was retaken by the Republicans in 2014. So...
It shows volatility in politics, not a prediction of things to come.
IF the war is over and Iran comes to the table and makes the correct deal (and people will differ on what that is) I think you’ll see prices dropping quickly. My guess is this will happen soon.

In June 2022 the average price was $5.15 per gallon. And it was not caused by a war to stop a bunch of madmen who had violated our sovereignty and international norms by seizing our embassy and taking hostages for 444 days, then chanting "DEATH TO AMERICA" for the next 47 years.. .
It was caused by Leftists in power pushing their "Green New Deal" crap and intentionally driving up the price of gas to accomplish that. Then we had the midterms in 2022, and the price of gas came down. only dropping in the months before the midterm results because Biden drained the SPR taking out more than 180 million barrels from the SPR for POLITICAL purposes ONLY, not in support of a military mission or anything else. Republicans took control of the House, and helped prevent a further drainage of the SPR by the Left.
