EL7.AI
GeopoliticsMedium•21 October 2026•
2 min read

Trump rules out attacking Iran before 3 November elections amid Israeli push to resume strikes

Key Facts

1Trump said the United States would not attack Iran before the midterm elections scheduled for 3 November.
2Brent futures rose $2.06, or 1.9%, to $110.85 a barrel at 1048 GMT, according to Reuters.
3U.S. commercial crude inventories fell 3.1 million barrels to 412.5 million barrels, about 3% below the five-year average.
4The National, citing the Financial Times, reported that the proposed operation against Iran had been postponed because of Trump's opposition.

U.S. President Donald Trump said the United States would not attack Iran before the midterm elections scheduled for 3 November, according to the Associated Press, as reports emerged of Israeli efforts to resume strikes. Investing, citing the Financial Times on Wednesday, said Israeli Prime Minister Benjamin Netanyahu was pushing to resume large-scale strikes against Iran. On the proposed operation, The National, citing the Financial Times, reported that it had been postponed because of Trump's opposition. On U.S.-Israeli contacts, U.S. Defense Secretary Pete Hegseth confirmed his visit to Israel and meeting with Netanyahu, according to CBS News. Hegseth said he was there "to visit our troops." He added that he "had an opportunity to speak to the prime minister."

In the oil market, Brent crude futures rose during Wednesday's trading as hopes for diplomatic progress faded, according to a Reuters report carried by Investing. A barrel stood at $110.85 at 1048 GMT, up $2.06, or 1.9%. In the site's separate historical table, Brent was listed at $109.98 a barrel on 21 October 2026, with a daily gain of 1.09%. On U.S. inventories, the Energy Information Administration's weekly summary showed commercial crude oil stocks fell by 3.1 million barrels in the week ended 16 October 2026. That brought inventories to 412.5 million barrels, a total covering commercial stocks excluding the Strategic Petroleum Reserve. The EIA put inventories about 3% below the five-year average, with the weekly decline adding to the existing gap between stocks and that average.

On the diplomatic front, The National said negotiations between Tehran and Washington were continuing. The talks are being conducted indirectly through mediation by Pakistan and Qatar. On the timing of any U.S. military action, the Associated Press quoted Trump as saying the United States "will not attack Iran at any time before the midterm elections to be held in the United States on 3 November." The U.S. pledge covers the period before the vote, while the proposed operation was postponed because of the U.S. president's opposition, according to the Financial Times account carried by The National. The elections scheduled for 3 November come as Pakistani and Qatari mediation between the two sides continues.