President Donald Trump said Tuesday that he has made a deal with Israeli Prime Minister Benjamin Netanyahu for the U.S. to stop sending $4 billion in aid annually to Israel, without providing details.

Oil prices slid in response to Trump’s comments.

“Bibi Netanyahu and I have made a deal that we give Israel $4 billion a year, and we made a deal months ago that we’re stopping,” he said in a phone interview with “Fox and Friends,” saying that the money would get “cut off at the end of the year.”

Trump made the comments while voters were heading to the polls for the midterm elections. During the campaign, the issue of U.S. aid to Israel, and Israel’s war in Gaza, have become one of the most contentious issues.

On stopping aid, Trump said Israel was “fine with it because, you know, they have become a very successful country, adding that “they don’t need it.”

“Now we’ll help Israel if they need it. You know they’ve been a great ally,” he said, adding that the idea to halt the aid had come from Netanyahu himself.

“Can I be honest with you? He brought it up,” Trump added. “He said: ‘I think it would be appropriate if we do not receive aid,’ because he understands that this is one of their points of contention.”

The Israeli prime minister said in January that he hoped to “taper off” American military aid over the next decade. Asked about Trump’s comments Tuesday, a spokesman for Netanyahu said he didn’t know anything about the remarks but would check for details.

It was not immediately clear which exact funding Trump meant. A memorandum of understanding that provides $3.8 billion annual U.S. military aid to Israel is approaching its expiration date in 2028 and conversations have been under way on how Washington’s assistance to Israel would evolve beyond that date.

The president appeared to acknowledge a political dimension to the decision, saying, “The left uses the $4 billion payment that everybody knows about, when it’s no secret, as a as a signal of unfairness, and we can’t allow that to happen.”

“I don’t like that because you know it’s too easy. It’s almost too easy a target,” he said. “And Bibi and I have been talking, and we’ve we’ve agreed. He was he very understanding of it.”

Brent crude oil fell by more than 3% to around $101 per barrel, its lowest level in more than three weeks, as investors and traders viewed the comments as potentially further evidence that the Iran war could be ended without escalation.

Trump and Netanyahu launched a war on Iran earlier this year, and munitions in the U.S. have been increasingly depleted as a result.

The drop added to oil’s biggest one-day decline in three months on Monday, after Trump told NBC News that he was not planning to attack Iran after the midterms.

This is a breaking news story. Please check back for updates.