Opec+

Former US President Donald Trump is drawing attention for comments explaining why he would avoid attacking Iran before Election Day, keeping the prospect of war with Iran at the centre of American political debate. The tension is spilling into energy markets, with OPEC+ reportedly weighing whether to maintain its production targets for October 2026 as traders assess the risk of wider conflict disrupting oil supplies.

Donald Trump's diplomatic moves are being examined for their impact on global oil prices. Commentators are weighing how his negotiations and foreign policy posture could affect supply expectations, OPEC behaviour and energy market volatility, with traders and analysts watching closely for signals on sanctions, production and relations with major oil-producing nations.

Saudi Arabia drove an increase in OPEC+ oil production in September, according to a Reuters report, even as the war involving Iran disrupted supplies elsewhere in the region. The group raised output despite the conflict, signalling members are prioritising market share and keeping prices in check. The report highlights Saudi Arabia's role as the alliance's dominant producer.

Oil prices dropped after Donald Trump ruled out a military strike on Iran, easing supply-disruption fears that had supported crude markets. Despite the decline, analysts note a persistent floor under prices, with traders still pricing in broader Middle East risk. Markets are watching whether diplomatic signals hold and how OPEC producers respond to shifting expectations.

Oil prices gained after a report said the White House is considering military strikes against Iran. Traders reacted to the prospect of heightened conflict in the Middle East, a region central to global oil supply. Markets typically push crude higher on any escalation risk involving Iran, a major OPEC producer.