Oil futures climbed Thursday as traders weighed reports that U.S. and Israeli forces had prepared options for renewed attacks on Iran after next month’s U.S. midterm elections.
Brent crude futures closed at $113.17 per barrel on Oct. 22, up 4%, while West Texas Intermediate rose 2.4% to $99.47, CNBC reported. The outlet linked the gains to market concern about a possible escalation in the Middle East.
The New York Times reported that the two militaries had developed plans for another round of strikes after the midterms, based on accounts from U.S. officials and people informed about the discussions. The report did not establish that President Donald Trump had approved an operation, and it gave no date for a decision or strike.
France 24’s separate video report said joint military drills had increased and listed energy sites, drone facilities and missile arsenals as possible targets. Those were reported possibilities, not an official target list. France 24’s press review also said Pentagon chief Pete Hegseth met Israeli Prime Minister Benjamin Netanyahu that week and that joint training had increased.
The press review, summarizing The New York Times report, said U.S. officials cited by the newspaper assessed that another major attack might bring Iran’s economy close to collapse and prompt diplomatic concessions. That was the officials’ assessment, not a confirmed outcome.
In an Oct. 21 press-pool exchange archived by the American Presidency Project, Trump said the United States was not negotiating with Iran and indicated that something would happen “fairly soon.” He added, “Most people seem to think it’s after the election.” His remarks did not announce approval of a strike plan. France 24’s review also noted that Trump had repeatedly canceled plans to return to major combat.
The reports place the planning horizon after next month’s midterms but provide no date for a decision or operation.
