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As the 2026 midterm elections approach, President Trump faces political challenges due to persistently high gas prices and rising mortgage rates, exacerbated by the ongoing war in Iran. Voters are increasingly blaming Trump for their financial woes, despite his claims of a strong economy.

The U.S. Department of Energy will release another 40 million barrels from the Strategic Petroleum Reserve, marking the final tranche of a 172 million barrel pledge. This comes as gasoline and diesel prices remain elevated, with diesel topping $6 per gallon.

The Group of 7 nations agreed to release 100 million barrels of diesel and crude from strategic stockpiles over four months to ease record-high prices. This decision comes amid threats by President Trump to impose a ban on U.S. diesel exports.

New highs in oil prices are straining European households' budgets and companies' profit margins, pushing governments to increase aid mechanisms. Diesel prices hit a new record high in the EU, averaging €2.23 per liter, with 19 member states breaking price records.

War in the Persian Gulf and Russia has caused refinery exports to plunge, leading to soaring diesel prices globally. This squeeze on supplies impacts industry, transportation, and agriculture worldwide, with shortages appearing in various nations.

With 43 days until the midterms, Democrats show momentum while Republicans hold the map and money. Key Senate and House races remain tight, with ad spending favoring Republicans in many contests.