President Donald Trump said Wednesday that he expects the war with Iran to end immediately following the November midterm elections, arguing that Tehran is deliberately trying to prolong the conflict in hopes of influencing the U.S. vote. Trump made the remarks as the seven-month conflict entered another period of escalating attacks.

“I think the war will end immediately after the election,” the President said, explaining that Iran “can’t hold out any longer.”

Trump contended that Tehran’s strategy is tied directly to the American elections, accusing Iranian leaders of hoping that political changes in Washington will ease the pressure they are facing. “They’re desperate to try and affect the election so that we could get a nice, weak group of people in there and leave them alone and let them have their nuclear weapon.”

The President’s comments came amid another escalation in hostilities between Washington and Tehran. Iran said Wednesday that it had targeted ships near the Strait of Hormuz following U.S. attacks on Iranian oil tankers, while oil prices climbed sharply amid fears of further disruptions to global energy supplies.

Trump also addressed the latest round of American military action against Iranian vessels and indicated that additional strikes could follow. “You’re going to see a lot more.”

The renewed fighting has added to economic pressures stemming from the conflict, with Brent crude climbing above $100 a barrel Wednesday for the first time since July. Trump said he believes oil prices will decline once the conflict comes to an end after the elections.

At the same time, Trump made clear that any future arrangement with Tehran would extend well beyond restrictions on Iran’s nuclear program. “I’m doing much more than a nuclear deal. There’s a lot more than nuclear… That’s 99.9, but there’s going to be a lot of other things on the table that wouldn’t have been on the table three months ago.”

Trump also left open the possibility that negotiations could eventually resume, although he indicated Wednesday that reaching a new agreement with Tehran is not currently a priority for his administration.