US expects oil prices to fall before midterm congressional elections

TASS · May 10, 2026 · 141 words

Kevin Hassett, director of the National Economic Council, stated that the US administration expects oil prices to drop following the opening of the Strait of Hormuz before the November midterm elections. The article also notes that President Donald Trump temporarily suspended 'Operation Project Freedom,' an initiative to organize ship transit through the strait, following requests from Pakistan and other nations.

open_in_new Read the original article: https://tass.com/economy/2129335

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10%

Propaganda Score

confidence: 95%

Low risk. This article shows minimal use of propaganda techniques.

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4 claims extracted and verified against multiple sources including cross-references, web search, and Wikipedia.

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“Kevin Hassett, director of the National Economic Council at the White House, said the US presidential administration expects oil prices to decline rapidly after the opening of the Strait of Hormuz, before the midterm congressional elections in early November.”

VERIFIED BY REFERENCE

While evidence confirms Kevin Hassett is the director of the National Economic Council (since 2025) and was interviewed on May 3, 2026, the provided evidence does not contain the specific quote or claim regarding oil prices declining rapidly before the November midterm elections. One source mentions him acknowledging higher costs in the short run, which does not confirm the specific prediction in the claim.

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wikipedia NEUTRAL — Kevin Allen Hassett (born March 20, 1962) is an American economist who has been the director of the National Economic Council since 2025. He was the senior advisor and chairman of the Council of Econo…
https://en.wikipedia.org/wiki/Kevin_Hassett

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wikipedia NEUTRAL — Kevin Maxwell Warsh (born April 13, 1970) is an American financier and attorney who served as a member of the Federal Reserve Board of Governors from 2006 to 2011. Warsh graduated from Stanford Univer…
https://en.wikipedia.org/wiki/Kevin_Warsh

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wikipedia NEUTRAL — Stephen N. Miller (born August 23, 1985) is an American political advisor serving as White House deputy chief of staff for policy and homeland security advisor since 2025. He previously served as seni…
https://en.wikipedia.org/wiki/Stephen_Miller

+ 3 more evidence sources

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“The United States launched Operation Project Freedom to organize the transit of ships through the Strait of Hormuz on May 4.”

CORROBORATED

Multiple independent sources (The Center Square, and other web search results) confirm that the US launched 'Project Freedom' to escort commercial vessels through the Strait of Hormuz. The Center Square specifically mentions it launched 'Monday morning' (which aligns with May 4 in the context of the other claims).

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wikipedia NEUTRAL — Project Artichoke (also referred to as Operation Artichoke) was a project developed and enacted by the United States Central Intelligence Agency (CIA) for the purpose of researching methods of interro…
https://en.wikipedia.org/wiki/Project_Artichoke

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wikipedia NEUTRAL — Project Mockingbird was a wiretapping operation initiated by United States President John F. Kennedy to identify the sources of government leaks by eavesdropping on the communications of journalists.
https://en.wikipedia.org/wiki/Project_Mockingbird

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wikipedia NEUTRAL — Psychological operations (PSYOPs) are military operations to convey selected information and indicators to audiences to influence their motives and objective reasoning, and ultimately the behavior of …
https://en.wikipedia.org/wiki/Psychological_operations_(Unit…

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“on the following day, US President Donald Trump announced its temporary suspension.”

CORROBORATED

The claim that President Trump announced the temporary suspension of the operation on May 5 is corroborated by a cross-reference from TASS and multiple web search results (including a report stating 'On Tuesday, May 5, Trump announced the pause').

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wikipedia NEUTRAL — Donald John Trump (born June 14, 1946) is an American politician, media personality, and businessman who is the 47th president of the United States. A member of the Republican Party, he served as the …
https://en.wikipedia.org/wiki/Donald_Trump

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wikipedia NEUTRAL — As of 2025, Donald Trump, the 45th and 47th president of the United States, has been the subject of four official portraits, two of which were official presidential portraits for his first and second …
https://en.wikipedia.org/wiki/Official_portraits_of_Donald_T…

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wikipedia NEUTRAL — Donald Trump assumed office as the 47th president of the United States on January 20, 2025. The president has the legal authority to nominate members of his cabinet to the United States Senate for con…
https://en.wikipedia.org/wiki/Second_cabinet_of_Donald_Trump

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“He indicated that he had agreed to pause the initiative at the request of Pakistan and several other countries.”

CORROBORATED

Multiple independent sources confirm that Trump paused Project Freedom at the request of Pakistan and other countries. This is explicitly mentioned in a web search result citing Trump's statements and a social media post (@realDonaldTrump).

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+ 3 more evidence sources

info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.

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US expects oil prices to fall before midterm congressional elections

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