Trump says Iran war may last until midterms

US President Donald Trump has said he expects the war with Iran to continue until after the November midterm elections, while predicting that oil prices will fall sharply once the conflict ends.

Speaking to reporters on Wednesday while travelling to Texas for the Republican Party’s first midterm election convention, Trump said he believed Iran would be unable to sustain the conflict for much longer.

“I think the war’s going to end immediately after the election because they can’t hold out any longer,” Trump said.

The US president also linked the conflict to rising energy prices, saying oil prices would begin falling soon after the midterm elections. Crude prices climbed to around $100 a barrel on Wednesday, reaching their highest level since July amid escalating fighting across the Middle East.

“Right after the election, oil prices are going to be tumbling downward,” Trump said, adding that the decline could take longer than the end of the midterm elections.

Trump accused Iran of attempting to influence the US election by seeking what he described as a weaker group of lawmakers in Washington. He offered no evidence to support the allegation. Tehran has repeatedly rejected claims that it is pursuing nuclear weapons.

At the Republican gathering in Texas, Trump again promised lower energy prices after what he called victory in the war with Iran. He acknowledged that some Americans have expressed frustration over the conflict because of higher gasoline prices.

The comments come as Trump faces growing political pressure to bring the conflict to an end. The war has now entered its seventh month, despite his earlier prediction that it would last only a few weeks. Rising fuel and other living costs have contributed to a decline in his approval ratings and prompted criticism from some members of his own Republican Party.

The November 3 midterm elections could determine control of Congress. Republicans currently hold power in both chambers but face the possibility of losing seats, following the historical trend of the president’s party suffering losses during midterm elections.

Meanwhile, fighting across the region has intensified, placing additional pressure on global energy markets. Several oil facilities have come under attack, while disruptions to shipping routes have pushed up the cost of fuel and other goods.

The US military said on Wednesday that it had attacked five oil tankers linked to Iran. Iranian state media, meanwhile, reported that Tehran had launched attacks on two US Navy destroyers and eight oil tankers in the Strait of Hormuz, causing heavy damage.

The previous day, Iran-linked Houthi forces in Yemen reportedly launched a series of attacks in Saudi Arabia, triggering fires at oil facilities.

The renewed hostilities followed the expiry of a 60-day ceasefire between the United States and Iran last month. The surge in energy prices has also raised concerns that higher fuel and transportation costs could contribute to renewed inflation and put pressure on US interest rates.