Oil Climbs as Trump Reportedly Weighs Iran Strikes Ahead of Midterms

• Brent Crude and NY Crude prices are up over 4% intraday on fears of US strikes against Iran.
• The Atlantic reported that Trump is considering a plan to strike Iran before the midterms, with advocates seeing it as a way to demonstrate strength.
• An NBC News poll indicated 57% of voters are less likely to support a candidate who backs war.
• There has been an uptick in attacks in the Strait of Hormuz, and Saudi Arabia is formalizing a 'shuttle system' for oil transport, signaling preparation for sustained tensions.

Oil prices are rallying due to reports that the US is considering military strikes against Iran before the midterms, as detailed by The Atlantic. This potential action is seen by some as a way for the Trump administration to demonstrate strength amid stalled diplomacy, despite public sentiment largely opposing war. Escalating tensions in the Strait of Hormuz and Saudi Arabia's adaptation of oil transport methods underscore the growing geopolitical risks.