The pause follows recent claims by Trump that Washington must "finish off" the Iranian regime, though he now states the US is having "productive discussions" with Tehran. Hegseth warned that any future military action would be "swift and decisive," stating that Iran must choose between the "easy way or the hard way." Trump maintained that the current blockade of Iranian ports remains in full effect and noted that total oil flow through the Strait of Hormuz hit 22 million barrels overnight, with no oil originating from or destined for Iran.
Tuesday, October 20, 2026
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Trump Halts Iran Strikes After Oil's 5% Jump
Commodities12 days ago
The US military’s finalization of plans for major combat operations in Iran drove crude oil prices above $100 a barrel, triggering volatility in global energy markets. In response to the spike, which saw prices jump more than 5% on reports that the Pentagon had ordered Central Command to prepare for strikes, President Donald Trump announced on Truth Social that the US will not launch military attacks against the Islamic Republic before the Nov. 3 midterm elections.
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