Oil markets largely shrugged off US President Donald Trump’s pledge on Thursday not to strike Iran before November’s midterm elections, amid intensifying attacks on ships in the Gulf and an escalating Saudi-Houthi conflict.
Trump said Washington and Tehran were having “productive” talks, as the president contends with voters who are increasingly unhappy with his handling of the eight-month war and the resulting record-high fuel prices. Trump’s comments appeared to be in response to reports that the White House was considering a plan to strike Iran before the midterms.
Even the plan’s advocates were doubtful a limited operation could lower gas prices, but would make Trump “look like he got a win,” a Republican told The Atlantic.