Trump says US gas prices may remain high through November midterm election
US President Donald Trump said on April 12 that the price of oil and gasoline may remain high through November’s midterm elections, a rare acknowledgement of the potential political fallout from his decision to attack Iran six weeks ago, Reuters reported.
“It could be, or the same, or maybe a little bit higher, but it should be around the same,” Mr Trump, who is in Miami for the weekend, told Fox News’ Sunday Morning Futures With Maria Bartiromo when asked whether the cost of oil and gas would be lower by the fall.
The average price for regular gas at US service stations has exceeded US$4 (S$5) per gallon for most of April, according to data from GasBuddy. Mr Trump’s comments on April 12 came after weeks of asserting that the spike in prices is a short-term phenomenon, though his top advisers are cognisant of the war’s economic impacts, officials have said.
Iran aims to restore majority of refining capability within two months, oil ministry official says
Iran expects to restore most damaged refining and distribution facilities to 70-80 per cent of their pre-attack capacity within one to two months, a senior oil official said, as authorities work to recover from a wave of strikes on energy infrastructure, Reuters reported.
Deputy Minister of Oil Mohammad Sadeq Azimifar told the Student News Network that repair work had begun and that part of the Lavan refinery is expected to resume operations within about 10 days, with other units coming back online gradually.
US military says it will blockade Iranian ports after ceasefire talks ended without agreement
President Donald Trump on Sunday said the U.S. Navy would swiftly begin a blockade of ships entering or leaving the strategic Strait of Hormuz, after U.S.-Iran ceasefire talks in Pakistan ended without an agreement, Associated Press reported.
U.S. Central Command announced the blockade would involve all Iranian ports, beginning on Monday at 10 a.m. EDT, or 5:30 p.m. in Iran, to be “enforced impartially against vessels of all nations.”
However, CENTCOM said it would still allow ships traveling between non-Iranian ports to transit the strait. Its announcement was a step down from the president’s earlier threat to blockade the entire strait, and allows traffic to flow in the crucial waterway as long as it avoids Iranian ports.
Orban ousted after 16 years as Hungarians flock to pro-EU rival
Hungary's Prime Minister Viktor Orban, a key opponent of European Union efforts to help Ukraine fend off Russia's invasion, lost power after 16 years on Sunday (Apr 12) as Hungarians voted in record numbersfor a pro-EU course spearheaded by centre-right rival Peter Magyar, Reuters reported.
With the results showing his win, Magyar said: "As we promised, as we hoped, today, on April 12, 2026, Hungary and several million people made history again, exactly 23 years to the day after there was a referendum on joining the European Union in Hungary."
Magyar said Orban had conceded defeat, with his Tisza party projected to win 135 mandates in the 199-seat parliament, a two-thirds majority, based on partial results.
