Washington DC - President Donald Trump on Thursday ruled out attacking Iran before the midterm elections on November 3, saying Washington was holding "productive discussions" with Tehran.

Trump's post on his Truth Social platform followed a surge in oil prices on Thursday driven by media reports suggesting potential new US strikes before those elections.

"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, without providing additional details.

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The rise 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 hostilities between Yemen's Houthis and Saudi Arabia.

In a recent sign of those tensions, an oil tanker sailing off the north coast of Qatar reported being struck "by multiple projectiles," causing an unspecified number of casualties, the UKMTO maritime agency said Wednesday.

Polls suggest that US voters are strongly dissatisfied over rising fuel prices, linked to the conflict initiated by the United States and Israel against Iran in February.

The elections are likely to 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 heavily involved in the campaign, holding numerous rallies in an attempt to limit the damage or even turn the political tide.