Trump predicts Iran conflict will end around US midterm elections, oil to 'drop like a rock'

President Trump said he expects the Iran conflict to conclude around the timing of the US midterm elections and predicted oil prices would 'drop like a rock' once the war ends, as prospects for renewed US-Iran diplomacy remained uncertain following the latest Hormuz vessel strikes.

Why this matters. A presidential timeline tied to the midterms signals the administration's political framing of the conflict's endgame and sets a benchmark markets may use to price expectations for an oil-supply resolution.