President Trump said the United States could take control of Iran's oil if it remains in the country, comparing the prospect with a Venezuela arrangement under which the U.S. purchases 20% of production from North American Blue Energy Partners at the cost of production. He said Iran's regime was repeatedly seeking a deal and forecast that the conflict would end after the midterm elections, after which oil prices would fall sharply. A meeting in Oman between Gulf countries and Iran to discuss possible agreements on the Strait of Hormuz has been postponed. The Venezuela project covers 17 strategic oilfields over 25 years and targets output exceeding 1.5 million barrels a day, according to interim President Delcy Rodríguez. Oil purchased under the arrangement can be used to replenish the Strategic Petroleum Reserve. The conflict and Iran's shutdown of the Strait of Hormuz have raised fuel costs, with AAA reporting a U.S. average gasoline price of $4.31 on Sunday, more than $1.10 above last year's average.