US President Donald Trump said on Wednesday that the war with Iran will end "immediately after" the US midterm elections in November, arguing that Tehran would not be able to withstand continued US economic pressure as fighting escalated sharply around the Strait of Hormuz.

His remarks came as the conflict entered its seventh month, with renewed clashes near the Strait of Hormuz pushing oil prices higher. Benchmark Brent crude futures breached $100 a barrel for the first time since July.

Trump said oil prices would also fall after the war ends, while acknowledging that negotiations remain possible, though he said they were not his preferred option. The midterm elections, scheduled for November 3, are widely viewed as a key political test for the president, whose approval ratings have been hit by voter concerns over the Iran war and rising living costs.

Trump’s prediction contrasted with warnings reportedly delivered by some of his senior advisers, who privately told him the conflict could continue through the remainder of his presidency, according to The Wall Street Journal, citing US officials.

The report said Vice President JD Vance and Secretary of State Marco Rubio were among officials who warned that Tehran could continue resisting US pressure, potentially prolonging the conflict beyond January 2029. The White House did not immediately respond to a Reuters request for comment.

The latest escalation followed a series of attacks involving vessels near the Strait of Hormuz. The US military said it destroyed five Iranian oil tankers after an Iranian attack on a US warship, while Iran’s Islamic Revolutionary Guard Corps said it had carried out retaliatory strikes against two US warships and eight US oil tankers. The US Central Command denied that its naval ships had been attacked.

Iran’s Foreign Ministry condemned the US strikes, saying Iranian forces had carried out what it described as defensive strikes against US military facilities and vessels and would respond to what it called military aggression.

The confrontation has affected shipping activity in the region, with preliminary data from ship-tracking firm Kpler showing that only six commercial vessels passed through the Strait of Hormuz on Wednesday, below both the previous day’s level and the recent average.

Iran's Islamic Revolutionary Guard Corps spokesperson Hossein Mohebbi said Tehran had the capability to retaliate against any attacks and warned that Iran would respond with broader strikes if targeted. He also outlined conditions for ending the conflict, including a halt to military operations, an Israeli withdrawal from Lebanon, the lifting of the blockade on Yemen, the release of frozen Iranian assets and an end to pressure on Iran’s nuclear and missile programs.

Mohebbi also said Iran would establish a new maritime "sanctions zone," where vessels entering the area would face restrictions on maritime services and insurance.

(With input from agencies)