Brent Crude Slips as Trump Rules Out an Iran Strike Before the Midterms

Brent crude fell to around $103 a barrel early on Friday, October 9, 2026 (17 Mehr 1405). Trading Economics data show Brent at $103.07 that day, down 1.16 percent from the previous day. The drop followed Donald Trump's statement that the US will not attack Iran before the midterm elections on November 3 (12 Aban); Al Jazeera wrote that concern over supply in West Asia eased somewhat.

On Thursday, October 8 (16 Mehr), Brent had surged by as much as 5.7 percent; Trading Economics links that jump to intensified attacks on tankers transiting the Strait of Hormuz, with 9 vessels reportedly targeted over the past week. According to the same source, Brent is down 4.24 percent over the past month but still 64.31 percent above a year ago (on a contract for difference that tracks the benchmark).