Trump predicts Iran war will end shortly after mid-term elections

The short version

• President Donald Trump forecast that the war in Iran will likely conclude shortly after November's mid-term elections, leading to a sharp drop in oil prices.[CNBC]
• Crude prices recently retreated following reports that Iranian and Gulf officials plan to meet in Oman to discuss the Strait of Hormuz.[CNBC]
• Regional tensions persist as Saudi Arabia paused its East-West pipeline after drone strikes from Iraq, which Trump attributed to Iran.[CNBC]
• Trump stated that Yemeni Houthi rebels have communicated with his administration, while Iranian President Masoud Pezeshkian asserted Iran will not surrender.[CNBC]

Key facts

• President Donald Trump stated that the war in Iran will likely end soon after the November mid-term elections, prompting a sharp drop in energy prices.[CNBC]
• Brent crude settled down 2.8% at $104.61 per barrel and West Texas Intermediate fell 2.4% to $100.05 per barrel.[CNBC]
• Iranian state media reported upcoming talks in Oman between Iranian and Gulf officials regarding the Strait of Hormuz.[CNBC]
• Saudi Arabia halted operations along its East-West crude pipeline as a precaution following drone strikes originating from Iraq.[CNBC]
• Trump claimed Iran was likely responsible for the pipeline strikes and noted Yemen's Houthi rebels have contacted his administration.[CNBC]
• Iranian President Masoud Pezeshkian stated that Iran will not surrender and has resisted aggression from Israel and the United States.[CNBC]

Sources

Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.

• Trump sees Iran war ending soon after mid-term elections, predicts oil prices will then fall sharplyCNBC