Control of Congress is at stake, but for Cypriot households the clearest link is the war with Iran and what it could mean for fuel prices.
If you’re filling up the car in Cyprus this week, the U.S. midterm elections might feel a world away. But one of the issues weighing on American voters is familiar here, too. The war with Iran has pushed up fuel costs, and both countries are feeling it at the pump.
Americans vote Tuesday, Nov. 3, on all 435 seats in the House of Representatives and 35 of the Senate’s 100 seats. President Donald Trump remains in office for another two years. The vote will decide whether his fellow Republicans keep control of Congress or Democrats gain the power to challenge him from one or both chambers. Republicans hold narrow majorities in both chambers.
Reuters reported that polls favour Democrats to take the House, while the Senate remains uncertain. If Democrats win either chamber, they can make it harder for Trump to pass legislation and use committee hearings to scrutinize his administration. Control of the Senate would also give them a say over which of his nominees are confirmed.
What could Cyprus feel?
The most immediate link is oil. Brent crude climbed to about $107 a barrel in early trading Tuesday after reports of U.S. strikes on Iran’s Qeshm Island in the Strait of Hormuz, a key route for global oil shipments. That followed a sharp drop the previous day as hopes for a diplomatic breakthrough grew.
For drivers here, what matters is whether higher oil prices stick around long enough to filter through to petrol and diesel. Congress can challenge the administration over military spending and press it to explain its plans for Iran. The more immediate influence on oil prices is what happens in the Gulf, especially whether shipping can continue safely and whether diplomacy gains ground.
*Source: Reuters
