Jefferies global economist Mohit Kumar says the Middle East is now more volatile
than before the conflict began. Jefferies remains short-term optimistic that a
solution could allow oil to flow and cap price increases. Kumar adds that the
upcoming US midterm elections—along with the risk of losing control of the
Senate (and possibly the House)—constrain President Trump and may make him more
willing to accept some form of agreement before the vote to control oil prices.
