Oil Falls After Trump Rules Out Iran Attack Before Midterms

Oil prices fell in Friday trading after President Donald Trump said the United States would not attack Iran before the November 3 midterm elections and described discussions with Tehran as productive. Brent and US West Texas Intermediate futures declined as the remarks eased immediate concerns about a further military escalation, though supply disruptions continued to support the market. By 0450 GMT, Brent futures were down 1.3% at $102.91 a barrel and WTI had fallen 1.2% to $90.40, according to one reported trading snapshot. Other Friday updates recorded Brent between about $102.79 and $103.45 and WTI between $90.29 and $90.86, reflecting different observation times. Brent remained on track for a weekly gain after rising about 4% on Thursday, while WTI was headed for a slight weekly decline. Trump made the comments Thursday, saying the discussions with Iran were productive and ruling out an attack before the elections. His statement followed reports that military action was being considered. It establishes his stated position for the period before the vote, but does not signal a broader end to the conflict or guarantee a diplomatic agreement.