Trump rules out striking Iran before the November 3 midterms

What changed: a day after reports that the Pentagon was drafting options for possible new strikes, President Trump said Thursday the US "will not be attacking Iran at any time prior to the Midterm Elections." He described talks with Tehran as productive.

The US blockade of Iranian ports remains in force. Iran's foreign minister, Abbas Araghchi, said Tehran expects to give a formal reply to the US counterproposal within days.

Oil prices pared their gains after the post.