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Trump expects Iran war to end post-midterms, oil prices to drop; tensions remain high with attacks on Saudi pipeline.

Market News
12 Sep 2026
CNBC
View Source
Bearish
Trump expects Iran war to end post-midterms, oil prices to drop; tensions remain high with attacks on Saudi pipeline.

President Donald Trump predicted the Iran war will end shortly after the November mid-term elections, expecting oil prices to fall sharply afterward. Despite a recent pullback, oil prices surged above $100 a barrel amid ongoing regional tensions, including attacks on Saudi Arabia's key East-West pipeline and advances by Iran-backed Houthi rebels threatening critical shipping routes. Diplomatic talks between Iran and Gulf states are planned, but Iranian leaders remain defiant. The situation continues to pose risks to global oil supply and trade routes, with potential impacts on energy markets and geopolitical stability.

More News (XOM)

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