Veteran investor Peter Schiff warned that oil’s move above $90 a barrel could increase consumer costs ahead of the Nov. 3 midterm elections and complicate the Federal Reserve’s interest-rate decision. He predicted crude would soon exceed $100, pushing up the CPI (consumer inflation gauge) and bond yields. Crude was trading at $90.558 a barrel, up 0.38%, while Brent crude rose 0.67% to $95.288 as escalating U.S.-Iran strikes drove prices higher. August’s national average gasoline price reached a record $4.056 a gallon, and GasBuddy’s Patrick De Haan estimated Americans paid $10.51 billion more for gasoline last month than a year earlier. Rising fuel costs have increased political pressure on Republicans, while Polymarket put the chance of Democrats winning both chambers of Congress at 51%, compared with 26% a year earlier. Ross Gerber, co-founder of Gerber Kawasaki Wealth Management, said higher oil prices and interest rates could weigh on stocks ahead of the Fed’s meeting. Markets priced in about a 68% chance of a 25-basis-point rate increase at the Sept. 15-16 meeting. Schiff also said the 10-year Treasury yield’s move toward 2007 levels reflected a structural bear market, citing U.S. debt of more than $40 trillion.