U.S. President Donald Trump said on Oct. 8 that the United States would not attack Iran before the midterm elections. In a Truth Social post, he wrote: "Before the midterm elections, we will not attack Iran at any time." He also said the United States was having "productive discussions" with Iran. According to CNBC, Trump had told reporters the night before that his administration was considering resuming attacks on Iran before the election.
Trump reverses course within a day
Trump said the U.S. maritime blockade on Iran would stay in place. He also repeated that Iran would not be allowed to obtain a nuclear weapon. At a campaign rally on Oct. 7, he said reaching a deal with Iran was "not really what I want to do." The U.S. midterm elections are scheduled for Nov. 3.
Reuters and Ipsos polling from August showed that 31% of Americans supported military action against Iran, down from 37% in March. According to the American Automobile Association, the national average gasoline price on Oct. 8 stood at $4.36 per gallon, compared with $2.98 before the war broke out in late February.
Oil prices rose, then pulled back
CNBC reported that Brent crude futures settled up 4% at $104.28 a barrel on Oct. 8, while West Texas Intermediate crude rose 3.6% to $91.49. The report said Iran had stepped up attacks on tankers passing through the Strait of Hormuz, with nine tankers hit in and around the strait over the past week.
At the same time, Hurricane Isaias was approaching the U.S. Gulf Coast. Producers had shut in about 500,000 barrels per day, roughly 25% of offshore output in the region. After Trump’s post, oil prices retreated from the day’s highs.
Treasury sanctions 17 shadow fleet vessels
Also on Oct. 8, the U.S. Treasury Department announced sanctions on 17 vessels in Iran’s shadow fleet. Treasury said the ships had transported millions of barrels of Iranian crude oil, petroleum and petrochemical products to markets in South Asia and East Asia. The move was the latest round under the "Operation Economic Outcast" measures launched on Aug. 24.
The sanctioned vessels include the Vanuatu-flagged tanker TINA 5, which Treasury said carried more than 1.5 million barrels of Iranian crude in August. Another vessel named in the announcement was the Cameroon-flagged tanker SHENZHEN, which Treasury said had transported more than 3.5 million barrels of Iranian crude since November 2025.
Treasury Secretary Bessent said in a statement: "The Treasury Department is cutting off the funding the Tehran regime uses to wage war in the region." Treasury also removed two vessels from the sanctions list after they were sold to operators that are not under sanctions.