Trump reiterates Iran deal prediction tied to US midterm elections

Speaking at the United Nations, Donald Trump once again stated that he expects an agreement with Iran to be reached shortly after the midterm elections. The same claim was made on a previous occasion, following which oil prices climbed to a third-quarter peak, partly driven by attacks on Saudi pipelines. More recently, he shifted to saying a deal would come "soon," but has now returned to the midterm timeframe. There appears to be little substantive reasoning behind this position beyond his belief that his political opponents are working against his electoral prospects.

The former president also repeated that he faces a choice regarding Iran and described the Iranian government as weak and desperate.

Overall, the post-election remark can be seen as a positive sign for oil prices.