Trump rules out new US strikes on Iran before the November midterms
President Trump posted on Truth Social that the United States will not ‘be attacking Iran at any time prior to the Midterm Elections’ on November 3, after oil prices jumped on reports the White House had asked the Pentagon for limited Iran strike options.
The post followed a report that the administration was weighing both limited pre-midterm strikes and larger action afterwards. Trump said talks with Iran had been productive, but insisted the blockade would remain in full force.
Brent crude spiked as much as 5.7% to $105.91 in early New York trade before settling around $103.63, as markets priced in possible renewed strikes — and nine tankers have come under attack in and around the Strait of Hormuz in the past week.
The episode underlines how tightly the oil market, the midterm calendar and the fragile US-Iran ceasefire are now bound together.