President Masoud Pezeshkian urged Iranians to ration energy resources due to the impact of U.S. sanctions and a stalemate in mediation efforts regarding the nuclear file. Conversely, President Donald Trump described ongoing discussions as productive and stated that the U.S. would not attack Iran prior to the November 3 midterm elections. Although the U.S. blockade remains in full force, oil flows through the Strait of Hormuz have continued at record levels. These developments led to an immediate drop in oil prices as geopolitical risk premiums eased in the markets.
President Trump declared the U.S. will not attack Iran before the November 3 elections, while maintaining the blockade as oil flows reach record levels.
Read the full storyPresident Masoud Pezeshkian called for national energy rationing to withstand US sanctions, while reports indicate a total stalemate in diplomatic talks over the nuclear file.
