Oil gets cheaper after Trump says no attack on Iran before midterms

What happened

Oil prices fell after President Donald Trump said the United States would not attack Iran ahead of the midterm elections in November. The source ties the drop to that statement. It does not say how far prices fell.

Why it matters

Oil sits behind the cost of moving almost everything: the gasoline for a car or a bus, the trucks that bring food to the supermarket, the flight home for the holidays. Its price tends to rise when traders fear a conflict could disrupt supply, and to ease when that fear fades. A cheaper barrel, if it holds, takes some pressure off inflation, which decides how far a paycheck or an allowance goes in Mexico or Canada.