Trump promised not to attack Iran until the election and spoke about the negotiations. What about oil?

U.S. President Donald Trump stated that Washington is engaged in “productive negotiations” with Tehran: “We will not strike Iran before the U.S. midterm elections, which will take place on November 3,” the U.S. president promised.

At the same time, Trump described Iran’s situation as “extremely dire.” Despite an increase in oil shipments from the Middle East, “not a single barrel has been shipped from or to Iran,” the U.S. president emphasized. Washington, he said, will press for the complete dismantling of Iran’s nuclear program. He did not disclose any further details regarding the ongoing dialogue.

The price of Brent crude fell by just over $2 following his remarks, reducing its intraday gain to 3.74% (at its peak, it had risen by more than 5%)—at the time of publication, it is trading at $103.7 per barrel. WTI contracts, which had peaked at $93 on October 8, also fell to $91.

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This article was AI-translated and verified by a human editor