Oil prices fell on reports of a possible Iran nuclear deal, then Trump denied it — leaving gas and diesel prices high and Republican governors scrambling.

• Reports said Trump offered Iran sanctions relief and frozen funds for nuclear concessions; oil dropped sharply, then Trump called the story a hoax.
• The leak may have been deliberate, meant to push oil prices down before the midterms.
• Texas Governor Greg Abbott declared a diesel emergency to suspend state fuel taxes and shave a little off prices.
• Iran still can't export its own oil, and its currency has collapsed to record lows, so the pain is far worse on their side.
• Netanyahu faces a tough Israeli election timed near the US midterms, and his usual playbook under political pressure is to start a fight.

Outlook: Expect Trump to talk prices down through the midterms, with a real risk of renewed bombing after them.