Welcome to The Times of Israel's Daily Briefing, your 20-minute audio update on what's happening in Israel, the Middle East and the Jewish world.

US bureau chief Jacob Magid joins host Jessica Steinberg for today's episode.

Amid the resumed US-Iran fighting, US President Donald Trump is playing down the potential for escalation, reports Magid, and telling Israel not to worry.

Additionally, Magid discusses the administration's attempts to pressure Iran with economic sanctions, a lengthy process that will impact pricing for Americans at the gas pump, and will also require cooperation from a range of countries with diverse interests, including the United Arab Emirates, Oman, Qatar and China.

The US issued slightly stronger condemnation than usual of West Bank settler violence, denouncing criminal violence and calling for investigations, arrests and prosecutions, but didn’t specifically mention settlers, or Israel, in its statement, notes Magid.

The US-backed Board of Peace called out Israel's continued strikes on Hamas targets in Gaza, Magid also reports, as the Israeli government appears to be waiting until after the October 27 elections to make any substantive policy shifts.

Magid also updates us on a Palestinian banking crisis, which was averted at the eleventh hour, with Israeli banks Discount and Hapoalim agreeing to continue providing correspondent banking services until January 1.

Meanwhile, Palestinian Authority President Mahmoud Abbas's Fatah party is attempting to reconcile internal feuds ahead of planned Palestinian legislative elections at the end of November.

Check out The Times of Israel's ongoing liveblog for more updates.

For further reading:

Trump: ‘Israel should not worry’ about latest Iran clashes, war will wind down soon

US issues harsher censure of ‘West Bank violence,’ without explicitly blaming Israel

Board of Peace envoy knocks Israel’s ‘unacceptable’ Gaza policy as disarmament plan stalls

Palestinian banking crisis averted, as Israeli bank delays plan to halt collaboration

Feuding Fatah officials meet as internal rifts risk poor showing in November election

Subscribe to The Times of Israel Daily Briefing on Apple Podcasts, Spotify, YouTube, or wherever you get your podcasts. Ari Schlacht produced this episode.

IMAGE: US bureau chief Jacob Magid appears on the Times of Israel Daily Briefing with host Jessica Steinberg (AP)