US President Donald Trump said on Tuesday that the conflict with Iran would be over “very soon,” while predicting a sharp decline in oil prices once the fighting ends.
Speaking in Washington during an event unveiling a new AI-powered federal platform, Trump said Iran was “failing very badly” and reiterated that Tehran would not be permitted to obtain a nuclear weapon.
“That’ll be over with very soon,” Trump said of the conflict.
The president also predicted that oil prices would fall sharply, saying they would be “tumbling down” once the conflict was resolved.
His comments come as Washington and Tehran remain engaged in indirect diplomatic efforts through regional mediators, despite significant disagreements over the terms of a possible agreement. Trump recently rejected an Iranian proposal connected to reopening the Strait of Hormuz, while Iranian officials have maintained that diplomacy remains possible.
The Strait of Hormuz remains central to both the conflict and global energy markets, with disruption to shipping through the strategically important waterway contributing to elevated crude prices.
Despite Trump’s prediction, oil markets remain volatile. Brent crude was trading at around $107 a barrel on Tuesday, as concerns about Middle Eastern supply disruptions continued to outweigh signs of recovering exports from the region.
Trump has repeatedly said that preventing Iran from obtaining a nuclear weapon remains a central US objective in the conflict.