US President Donald Trump has ruled out military strikes against Iran before the November 3 midterm elections, citing what he described as “productive discussions” with Tehran. However, he confirmed that the US blockade would remain in force. Reuters
The announcement has eased some fears of immediate military escalation, but uncertainty surrounding the conflict remains.
Oil Prices React
Crude oil prices fell on Friday as Trump’s comments reduced concerns about further supply disruptions. Brent crude dropped 0.7% to $103.53 per barrel, while WTI declined 0.6% to $90.97, according to Reuters. Source
What Comes Next?
The US blockade remains in place, and tensions surrounding the Strait of Hormuz continue to threaten global energy supplies. Although the immediate risk of US strikes has diminished, traders will closely monitor diplomatic developments and oil flows.
