Trump postpones possible strike on Iran, oil prices react

Filed 1h ago · Via NV · The Buffoon Desk

THIS STORY IS SCORED

Parisian

Kevin MacLeod · incompetech.com · CC BY 4.0

Photo: Ferdinand Roybet · Public domain · via Wikimedia Commons

President Trump said he will not strike Iran before the November 3 U.S. midterm elections, citing productive talks, and oil prices fell on the news: Brent crude dropped to $102.60 a barrel and WTI to $90.18. The dip came after a volatile stretch that included a 4% weekly gain in Brent amid tanker attacks in the Strait of Hormuz.

Iran's foreign minister said Tehran is weighing a U.S. response to its proposal to restore shipping through the Strait within seven days. An analyst cautioned that any real easing of tension still depends on concrete negotiating progress and actual improvements in shipping safety, not just a statement of restraint.

The timeline behind this is not subtle: Trump had previously vowed to destroy a bridge or power plant for every Iranian tanker attack, U.S. forces carried out a 12th consecutive overnight strike on Iran in July, and oil has lurched up and down through August and September on ceasefire talks that kept collapsing.

The full dispatch is available from the source below.

✒ FROM THE EDITORIAL DESK

An election-shaped ceasefire is still a ceasefire, but it's worth noticing that the calendar doing the talking is the midterms, not a signed agreement. Markets will take any excuse to exhale, even a temporary one tied to a vote rather than a peace deal. Ask again in December whether the bridges and power plants are still off the table.

Source: Read the original at NV → Scored: Parisian · Kevin MacLeod · CC BY 4.0