Trump defers Iran strikes pre-midterms; Hormuz tanker attacks, Gulf hurricane roil oil

President Trump has ruled out military strikes on Iran before the midterm elections, a stated policy reversal from prior escalation rhetoric, even as oil nears $110/bbl. Iran has struck at least one tanker daily in the Strait of Hormuz for three weeks, and a Gulf hurricane threatens supply, creating layered supply risk. The deferral is a political calculation that may cap immediate escalation but leaves the security situation in the Gulf unresolved and volatile.