The midterms just bought the Gulf a timeout — at least on paper. Late Thursday on Truth Social, President Donald Trump said the United States “will not be attacking Iran at any time prior to the Midterm Elections” on November 3, while claiming Washington is having “productive discussions” with Tehran, Al Jazeera and CBS News report.
Trump also said the blockade stays on and bragged that 22 million barrels moved through the Strait of Hormuz the night before — “with not one barrel coming from, or going to, Iran,” per CBS. Speculators had been pricing a pre-midterm strike wave; Thursday’s oil jump partly reflected that fear. After the post, the fear trade cooled.
Brent, which CBS says had been near $105 before the Truth Social blast, slipped to around $103. Into Friday morning, CNBC had front-month Brent about 1.3% lower at $102.94 and WTI about 1% lower at $90.51.
On the Iranian side, Foreign Minister Abbas Araghchi said Tehran is reviewing the U.S. response to its seven-day Hormuz reopening plan and will answer in the “next few days,” with talks continuing through mediators, Al Jazeera and CNBC note. The Axios-era chatter about Pentagon prep options still hangs in the background — but Trump’s midterms pledge is the new headline.
Regional heat did not vanish overnight. Iran-backed Houthis claimed strikes on Riyadh’s King Khalid International Airport on Thursday that killed three, including Saudia Capt. Hamoud Ali Alkalthami, CBS and CNBC report. That fight is escalating — but today’s story is the president putting U.S. strikes on Iran on ice until America votes.
Sources: Al Jazeera · CBS News · CNBC
Leave a Reply