Trump Says Iran War Will End Soon After Midterms, Predicts Oil Prices Will Fall

President Donald Trump is predicting that the war with Iran could end shortly after November’s midterm elections, potentially providing badly needed relief from surging oil and gasoline prices.

Speaking with reporters during his trip to Ireland, Trump offered a possible timeline for the end of hostilities and linked a settlement directly to lower global energy costs.

“I think very soon, I think it’ll be right after the midterms, actually,” Trump told reporters during his Ireland trip.

Trump added, “Oil prices will tumble when the war ends,” linking any ceasefire to potential energy relief.

His comments followed another turbulent week in global energy markets, with crude oil climbing above $100 per barrel amid continuing instability across the Middle East.

Traders remain especially focused on the Strait of Hormuz, the strategic maritime corridor connecting Persian Gulf oil producers with customers around the world.

Before fighting began in February, approximately one-fifth of the world’s oil supply passed through the narrow waterway.

Shipping through Hormuz remains severely disrupted, forcing tanker operators to confront extraordinary military, insurance and logistical risks.

Those pressures have reached American consumers through higher gasoline prices, while diesel costs have also risen to exceptionally painful levels.

An end to the war could therefore carry significant economic benefits. Lower petroleum prices would reduce costs for transportation, agriculture, manufacturing and household energy while potentially easing broader inflationary pressures.

Trump also addressed a drone attack targeting Saudi Arabia’s East-West oil pipeline, saying Iran was likely responsible.

“I think they are, probably they are,” Trump said when reporters asked whether Tehran was behind the attack.

The East-West pipeline gives Saudi Arabia a vital alternative route for exporting oil when traffic through the Strait of Hormuz is restricted or threatened.

Saudi authorities said drones originating from Iraqi territory struck the pipeline and nearby infrastructure, causing physical damage and injuring civilians.

Trump said he spoke with Saudi Crown Prince Mohammed bin Salman, whom he described as a “good friend.”

“Everything will work out fine,” Trump said while discussing the Saudi attack and the wider regional crisis.

At the same time, Iran-backed Houthi forces advanced near Yemen’s Bab el-Mandeb Strait, another crucial maritime chokepoint for international trade and energy shipments.

Their gains have intensified fears that tanker traffic could face disruption on both sides of the Arabian Peninsula, placing additional pressure on global oil supplies.

Trump said Houthi representatives had contacted his administration and signaled that they wanted to avoid a direct confrontation with the United States.

“They would much prefer not having us involved,” Trump said while discussing communications with the Iran-aligned Yemeni movement.

The president further accused Iran of attempting to extend the conflict through the American midterm elections, an allegation rejected by Tehran.

Trump said the American people understand the stakes because “Iran cannot have nuclear weapons.”

Diplomatic attention had briefly turned toward Oman, where regional governments were preparing to meet with Iranian representatives about the Strait of Hormuz and the broader conflict.

Iran has reportedly sought an arrangement allowing it to collect fees from vessels passing through the waterway. Oman has resisted that demand.

The proposed meeting was postponed by Sunday, demonstrating how rapidly opportunities for diplomacy can disappear while hostilities continue.

Oil prices rose again in response to the attacks on Saudi infrastructure and the breakdown of the latest diplomatic opening.

The International Energy Agency has also warned that global oil supplies could decline more sharply than previously expected during 2026.

Even if a political agreement is reached, consumers may not experience immediate price relief. Normal shipping must resume, damaged infrastructure may require repairs, inventories need to be rebuilt and elevated insurance and freight costs must decline.

Trump’s argument is that ending the conflict would eliminate the central geopolitical risk premium now driving a substantial portion of the world’s petroleum prices.

His forecast places a possible conclusion to the war shortly after the November 3 midterms, although no agreement has been announced.

Iran remains defiant, military operations continue and critical shipping corridors remain vulnerable to further attacks and political disruption.

Until circumstances change, energy markets—and American motorists—will remain exposed to developments across Iran, Saudi Arabia, Yemen, Iraq and Oman.

Trump is nevertheless expressing confidence that the conflict can be brought to a close and that the economic benefits will follow.