US President Donald Trump said the United States will not attack Iran before the November 3 midterm elections, citing “productive discussions” with Tehran. He wrote on Truth Social that the US naval blockade would stay “in full force and effect.”

Trump claimed 22 million barrels of oil flowed through the Strait of Hormuz in one night, “with not one barrel coming from, or going to, Iran.” His statement followed an Atlantic report that the White House had asked the Pentagon for limited strike options before the vote.

The announcement calmed oil markets. Brent crude fell 0.7 percent to $103.53 a barrel after jumping to $105 earlier in the week on strike fears. The war with Iran is in its eighth month.

Analysts say the conflict has become a political liability for Trump ahead of the midterms, with rising fuel prices and voter fatigue over long foreign wars. More substantial military action after the election remains under consideration.