Donald Trump has said Washington will not strike Iran ahead of the US midterm elections, as the Islamic republic steps up attacks on commercial ships trying to transit the Strait of Hormuz. Trump’s war on Iran is deeply unpopular with the US electorate, having created a global energy crisis and triggered an inflation shock that is hitting American voters’ ability to afford everyday products and services. Tied to the president’s policies, Republicans are fighting to keep control of Congress, which increasingly appears to be slipping from their grasp.
“We will not be attacking Iran at any time prior to the Midterm Elections to be held in the United States on November 3rd,” Trump wrote in a social media post on Thursday, adding that Washington and Tehran were “having productive discussions”.
Oil prices had surged to their highest level this month on Thursday after tankers were hit by missiles in the Gulf and off the coast of Oman late on Wednesday, alongside signs that a revival of shipping through the vital waterway was tapering off. Brent trimmed its gain following Trump’s post and settled 4.1 per cent higher at $104.28 a barrel.
Trump’s post was a tacit acknowledgment that further strikes against Iran could undermine Republican candidates on the campaign trail less than a month before the midterms. Polls show that voters’ anger over the high cost of fuel due to the president’s war could cost his party at the ballot box.
Source: Financial Times Markets · Summarized by HeadlinesBriefing