Oil futures retreat after Trump Iran comment

1717 ET - Oil futures end the session slightly higher with the market showing relief after President Trump said the U.S. won't strike Iran before the U.S. midterm elections. Concerns remained about continued attacks on shipping in the Middle East and loss of U.S. production to Hurricane Isaias. "The prospect of easing tensions still needs to be reinforced by concrete progress in negotiations and improvements in shipping safety through the Strait of Hormuz," Linh Tran of XS.com says in a note. The storm disruption "provides additional support for oil prices, but the duration of its impact will depend on post-storm facility inspections and the pace of operational recovery." WTI settles up 0.4% at $91.85 a barrel, up 0.8% on the week. Brent gains 0.4% to $104.72 a barrel for a 2.4% weekly gain. (anthony.harrup@wsj.com) (END) Dow Jones Newswires October 09, 2026 17:17 ET (21:17 GMT) Copyright (c) 2026 Dow Jones & Company, Inc. The statements in this document shall not be considered as an objective or independent explanation of the matters. Please note that this document (a) has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and (b) is not subject to any prohibition on dealing ahead of the dissemination or publication of investment research.