US Midterms Shift Congress as Iran Rally Marks Embassy Anniversary Amid Hormuz Crisis

US voters handed Congress to Democrats in midterm elections widely seen as a referendum on Trump's turbulent second term, with frustration over living costs and the Iran war driving the Republican rout. Hours later, thousands gathered Wednesday outside the former US embassy in Tehran for the annual November 4 rally marking the 1979 seizure, chanting "Death to America" and "Death to Israel" while waving banners depicting Trump as a blood-stained bulldog on a leash held by a devil-like Netanyahu.

The rally doubled as a demand for revenge after US-Israeli strikes killed Supreme Leader Ayatollah Khamenei in late February, sparking the regional war. Towering over the crowd was a display declaring "The people of Iran set the price," flanked by black oil barrels across a world map — symbolizing Iran's asserted control over the Strait of Hormuz, through which 20% of global oil passes. Tehran's Hormuz disruption and Washington's naval blockade of Iranian ports have sent energy prices soaring.

Iranians at the rally expressed mixed views. "We are not happy about the surge in oil prices," said Mahmoudkhani, 40. "But there is satisfaction in knowing we no longer suffer sanctions alone." Civil servant Mohammad, 42, doubted the US election changes anything: "Whether Democrats or Republicans, the US approach toward Iran has remained the same for 50 years." Chief negotiator Mohammad Bagher Ghalibaf hailed the midterm result: "Americans said NO TO WAR." Qatar-Pakistan mediation efforts have stalled.

For Nigeria, sustained high oil prices from Hormuz disruption directly impact government revenue, fuel costs, and inflation. The Federation Account depends on crude benchmarks — prolonged disruption could widen budget deficits or trigger subsidy pressures.

Will Nigeria's 2025 budget assumptions hold if Hormuz tensions keep Brent above $90, or should planners hedge for volatile energy markets?

SOURCE: https://www.channelstv.com/2026/11/04/thousands-mock-trump-after-midterm-setback/