U.S. futures are climbing and as oil prices retreated from their recent gains after President Donald Trump said “productive discussions” are happening with Iran. Futures for the S&P 500 gained 0.4% on Friday,

Oil prices edged higher as traders weighed President Trump’s pledge not to attack Iran before the U.S. midterm elections against persistent shipping risks in the Persian Gulf and extensive offshore production shut-ins in the Gulf of Mexico.

Brent crude oil prices were up more than 5% on Thursday and West Texas Intermediate continues to climb as the White House mulls resuming Iran strikes.

Oil prices fell after Trump said the U.S. wouldn’t attack Iran before the midterms, citing productive talks with Tehran.