Trump Reportedly Says He Has No Regrets Over Iran War Even As Oil Tops $100 - USO And UCO Jump While Midterm Stakes Get Higher

• Trump said he would make the same decisions again, while acknowledging that he sometimes questions himself.
• Brent crude climbed above $109 a barrel, while WTI surpassed $102 on Thursday as fighting escalated.
• White House advisers have also reportedly discussed the possibility that the Iran war could last beyond January 2029.

President Donald Trump is standing by his decisions on the Iran war even as the conflict becomes a growing political challenge for him and Republicans heading into the midterms. In an interview with 'The Ingraham Angle' on Thursday, Trump said he would make the same decisions again, while acknowledging that he sometimes questions himself.

The war is weighing on Republicans as they make their case to voters, with Trump facing declining approval ratings as Republicans sour on the president over the conflict, high gas prices and inflation, Axios reported.

The pressure is also showing up in oil markets. Brent crude futures climbed above $109 a barrel on Thursday, while U.S. West Texas Intermediate futures crossed $102 as fighting between Washington and Tehran sharply escalated this week.

Trump Says No Regrets Over Iran War

“I don't believe in the word regret,” Trump told Fox News' Laura Ingraham when asked about concerns over the war heading into the midterms, according to Axios.

“You can always question yourself a little bit. And a few people have asked me that. If I had it to do again, I'd do exactly as I did.”

Trump is making the Iran war part of his closing midterm argument instead of trying to move past it. He used the first night of the GOP midterm convention in Dallas to defend the Iran war and attack Democrats. He also suggested the war would end after Election Day.

“If we hand America's future to the radical-left Democrats, our nation will spend the next decade just getting back on its feet,” Trump said, according to Axios.“Vote Republican and we will leave the world in our dust for generations to come.”

Oil Surges As Fighting Escalates

The Iran war is weighing on Trump and Republicans as they make their case to voters ahead of the midterms, Axios reported. Trump faces declining approval ratings as Republicans sour on the president, with the war in Iran, high gas prices and inflation among the concerns, according to the report.

On Wednesday, top White House advisers discussed with Trump the possibility that the Iran war could drag on past Inauguration Day in January 2029, The Wall Street Journal reported.

USO, UCO Gain As Retail Sentiment Turns Bullish

The United States Oil Fund (USO), which tracks the price of West Texas Intermediate, was up 1.12% after-hours at the time of writing on Thursday. ProShares Ultra Bloomberg Crude Oil (UCO) was up 0.95% after-hours. The retail sentiment for both USO and UCO was 'bullish.' ProShares Ultra Bloomberg Natural Gas (BOIL) was up 0.67%, while sentiment was 'bearish.'

Crude Oil Brent futures (QA_F) and WTI Crude Oil futures (WS_F) were higher by 1.38% and 6.7%, respectively.

SPY, DIA, QQQ: Stocktwits Retail Sentiment

At the time of writing on Thursday after-hours, U.S. equities were mixed. The SPDR S & P 500 ETF (SPY) and SPDR Dow Jones Industrial Average ETF Trust (DIA) had both edged up 0.04%, while Invesco QQQ Trust ETF (QQQ) was down 0.08%.

Stocktwits retail sentiment for SPY, DIA and QQQ was 'bearish.' 

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