President Donald Trump ruled out Thursday attacking Iran before the US midterms on November 3, saying Washington was holding "productive discussions" with Tehran.
Trump's announcement on his Truth Social platform followed a surge in oil prices driven by media reports suggesting potential new US strikes prior to the elections, reported AFP.
"I want to make it clear to everybody that, while Iran is in very bad condition, both Economically and Militarily, and while the Blockade will remain in full force and effect...we will not be attacking Iran at any time prior to the Midterm Elections," he wrote.
"We are having productive discussions with the Islamic Republic of Iran," he added.
The Atlantic magazine reported on Wednesday that the White House had asked the Pentagon to develop options to strike Iranian targets that could be used before the midterms.
The New York Times said Thursday the plans were being developed despite Trump's "ambivalence."
The surge in crude oil prices has also been fueled by persistent tensions in the Strait of Hormuz -- a strategic chokepoint for the global oil trade -- as well as Houthi hostilities on Saudi Arabia.
Polls suggest American voters are strongly dissatisfied with fuel prices, which have soared since US-Israeli strikes against Iran on February 28 triggered the conflict.
Brent North Sea crude, the international benchmark, rallied to as high as $105.88 a barrel on Thursday before retreating to $104.28.
- Putin vows to help -
Russian President Vladimir Putin promised Thursday to "do everything" to help end the Middle East war when he met Iranian counterpart Masoud Pezeshkian for talks ahead of a regional summit, Russian media reported.
"We are ready to do everything that is in our power to contribute to the settlement of this situation," Putin said after arriving in Turkmenistan for a summit of the Commonwealth of Independent States (CIS) that starts Friday in the Caspian Sea resort of Avaza.
He added that Iran had made "real efforts to end the war," according to Russian news agencies.
Russia and Iran have reinforced diplomatic and military links since Russia launched its offensive in Ukraine in February 2022, becoming increasingly reliant on each other.
Trump has repeatedly insisted in recent weeks that the United States has effectively won the Iran war, despite ongoing unrest and a recent security threat that forced the withdrawal of American bombers from a base in England.
Iran's President Masoud Pezeshkian insisted Tehran was "engaged in dialogue, but every time we negotiate with the United States, they attack again", Iranian state media quoted him as saying at the talks with Putin.
Pezeshkian said the Iranian republic wanted to see a "final framework" to end the war.
But he accused the United States of "trying to impose its policies and views on all countries".
"If the United States insists on pursuing a unilateral approach, a resolution will not be possible," he said, according to state media.
- Approaching election -
The midterm elections will shape the final two years of Trump's presidential term as his Republican Party risks losing its current grip on Congress.
Although Trump is not on the ballot, he is holding numerous rallies in an attempt to limit the damage or even turn the political tide.
Trump has warned he faces a possible third impeachment if Democrats retake the House of Representatives, and the White House is preparing for a slew of investigations into corruption and abuse of power.
The US president also sought to calm a furor on Thursday over his comments at a rally earlier this week that Iran could "take out" the cities of Los Angeles and San Diego.
The 80-year-old blamed the "fake and artificial news" for misinterpreting the remarks, which Democrats pounced on.
"In actuality, what I was talking about was that a temporary increase in the price of Gasoline is a small price to pay for Iran not having a Nuclear Weapon and, if you want to see a big price, can you imagine what it would be like if they bombed San Diego and/or Los Angeles?" Trump said on Truth Social.
