US President Donald Trump made a prediction Wednesday about when oil prices might fall and the Iran war could come to an end: immediately after the US midterm elections. The comments come as Brent crude surged more than 3%, topping $100 a barrel for the first time since July.
A gull flies overhead as a boy stands with his bicycle on a beach overlooking commercial vessels anchored in the Strait of Hormuz off Bandar Abbas, Iran, Monday, Sept. 7, 2026. (AP Photo/Vahid Salemi)
A man works aboard a boat as a motorboat leaves a harbor in Bandar Abbas, Iran, Sunday, Sept. 6, 2026. (AP Photo/Vahid Salemi)
Crested terns perch on the exposed metal framework of a sunken boat at sunset in the Strait of Hormuz off Bandar Abbas, Iran, Sunday, Sept. 6, 2026. (AP Photo/Vahid Salemi)
In recent weeks, the United States has succeeded in loosening Iran’s grip over the Strait of Hormuz while virtually shutting down Iran’s own oil exports, accelerating its economic free fall.
