The Trump administration has decided to release up to 315,000 barrels from the Northeast Home Heating Oil Reserve to curb rising heating oil prices ahead of the 2026 U.S. midterm elections. The national average price currently stands at $6.14 per gallon, placing significant financial pressure on consumers in Maine and other parts of the Northeast. The move could benefit Republicans in closely contested Senate races, including Susan Collins’s. Market participants see prices remaining above $80 as likely, while OPEC production decisions and polling in competitive states will be closely watched.
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