Trump says Iran war will end after Nov. 3 midterms, oil prices will plunge

  • President Donald Trump said Iran’s war would end after the November 3 midterm elections.
  • $101.21 per barrel marked Brent crude’s highest close since May 22.
  • Iran’s war began February 28 and has continued into its seventh month.

President Donald Trump said the seven-month-old war with Iran will end immediately after the November midterm elections, predicting that oil prices will plunge and U.S. gasoline will fall below $2 a gallon. His remarks came as Brent crude settled at $101.21 a barrel, its highest close since May 22, while the average U.S. gasoline price reached $4.22 a gallon and diesel hit a record $5.94. Trump linked the conflict to Iran’s alleged effort to influence the U.S. elections and argued that high energy costs are necessary to prevent Iran from acquiring nuclear weapons. He gave mixed signals on negotiations, saying the conflict had gone too far for the United States to actively pursue talks while also asserting that a nuclear agreement would be reached with 99.9% certainty. Markets remain skeptical, with analysts emphasizing that oil prices depend on supply, demand and geopolitical risk rather than the political calendar. The war, inflation, energy costs and voter concerns are emerging as important issues ahead of the November 3 vote.

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Trump says Iran war will end after Nov. 3 midterms, oil prices will plunge - CoinPost Terminal