Veytics Intelligence
2026-09-12 · CNBC

Trump sees Iran war ending soon after mid-term elections, predicts oil prices will then fall sharply

The war in Iran will likely end soon after November's mid-term elections, President Donald Trump said Saturday, and predicted that energy prices would fall sharply once that happens. "I think very soon, I think it'll be right after the mid-terms, actually," Trump said on a trip to Ireland when asked by reporters when the Iran war is likely to end. "I would say shortly, and oil will come tumbling down when that happens," Oil prices retreated on Friday, but notched sharp weekly gains after soaring above $100 a barrel for the first time in months. Brent crude oil futures , the global benchmark, settled down 2.8% at $104.61 a barrel. U.S. West Texas Intermediate was down 2.4% to settle at $100.05 per barrel.

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