Trump's call with Sheikh Tamim fit into a flurry of diplomacy aimed at de-escalation. According to the emir's office, they discussed Qatar's work to narrow the gaps between the sides and to reach a comprehensive deal to end the conflict, now in its ninth month.
Sheikh Tamim emphasized dialogue to resolve disputes and highlighted the need to keep sea routes open and safeguard energy supplies, pointing to limits on traffic through the Strait of Hormuz. Qatar is serving as the chief go between for Washington and Tehran, and its officials have been making repeated trips between Doha and Iran's capital to try to lock in a possible agreement ahead of the US midterms.
Iranian Foreign Minister Abbas Araghchi, in a post on his official Telegram account, said he held separate calls on Thursday with his Saudi and Qatari counterparts about "efforts aimed at establishing stability in the region." He later talked with officials in the United Arab Emirates, Turkey, Kuwait, Cyprus and Jordan.
Separately, Mohsen Rezaee, Secretary of Iran's Supreme National Security Council, met Russian President Vladimir Putin in Moscow, according to the Kremlin's website. Iran's state broadcaster IRIB said Rezaee conveyed a message from Supreme Leader Mojtaba Khamenei to Putin and offered no further details.
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In a landslide, Democrats seized control of Congress, defeating Trump's Republican party. After the vote, Trump stated he had no near-term intention to order strikes on Iran, a remark that pushed oil lower as traders priced in a reduced chance of a return to full-scale fighting. Brent crude sank under the 100 dollar mark for the first time since September.
The bottom line: politics and diplomacy moved the energy tape. If talks keep tamping down war risk, that tends to relieve pressure on crude. If they stall, expect the opposite. Follow coverage of the 2026 midterms, including control of the House and Senate, governor races and ballot measures, for how politics may keep moving markets.
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