Productive Discussions: Trump Rules Out Attack on Iran Before Midterm Elections

U.S. President Donald Trump spoke on Thursday about "productive discussions" with Iran, despite stalled diplomatic efforts to end the war, while ruling out launching a new attack against it before the U.S. midterm elections scheduled for November.

Trump wrote on his Truth Social platform: "We are having productive discussions with Iran," adding: "I want to make clear to everyone that while Iran is in very bad shape, economically and militarily, and while the (U.S.) naval blockade remains fully enforced... we will not launch an attack on Iran before the midterm elections taking place in the United States on November 3rd."

Trump said that "oil is flowing at record numbers of barrels through the Strait of Hormuz, 22 million barrels last night alone, without a single barrel leaving or entering Iran."

Rising Oil Prices
Trump's remarks came as crude oil prices continued to rise on Thursday, following a report stating that the White House is considering strikes on Iran before the U.S. midterm elections.

Around 15:30 GMT, the price of a Brent North Sea barrel stood at $105.54, an increase of more than 5%, while West Texas Intermediate crude reached $92.90.

Oil prices had started the week lower amid signs that Middle Eastern oil exports were returning to pre-war levels, and an agreement among G7 countries to draw down strategic reserves.

However, tension returned to markets as Tehran escalated its attacks on oil tankers in the Strait of Hormuz, and the Houthis denied Yemeni government claims that their forces were making progress in a counteroffensive to retake areas they controlled, while senior officials in the oil sector warned of global stockpiles falling to worrying levels.

Military Action Options
Amid all these concerns, The Atlantic magazine reported on Wednesday that the White House had asked the Pentagon to develop options for striking targets in Iran before the midterm elections, where Trump's Republican Party risks losing its majority in Congress.

The report stated that the scale of the strikes and their targets remain under discussion, noting that a broader operation might be prepared for after the elections.

According to the magazine, proponents of these strikes do not even believe they would force Iran to sit at the negotiating table or reopen the Strait of Hormuz, but they hope it would constitute a show of force before the elections.

For his part, Axios reported, citing unnamed sources, that the final decision has not yet been made, but "if large-scale fighting resumes, it will involve intense bombing of energy infrastructure and Iranian nuclear sites."