● OIL BARELY BUDGES AFTER TRUMP'S NO-STRIKE PLEDGE

President Trump posted that the US will not attack Iran before the November 3 midterm elections, calling talks with Tehran "productive." Oil barely blinked: West Texas Intermediate rose 3.6% to $91.49 a barrel, and Brent gained 4% to $104.28, both near multi-month highs. Traders holding $USO are still pricing war risk through the Strait of Hormuz, pledge or not.