White House Signals Quick Finish After Oil Spike
U.S. President Donald Trump said Monday the war against Iran will end “very soon” and argued that oil prices will fall, despite crude briefly surging above $100 per barrel over the weekend and rattling global markets.
Speaking at Trump National Doral near Miami, the president pointed to battlefield momentum nine days after the U.S. joined Israel in launching strikes on Feb. 28. He did not lay out a detailed end state, but said the campaign is making “major strides” toward its objectives.
Claims of Major Damage, With More Targets Unhit
Trump said U.S. forces have crippled Iran’s military capacity, citing the destruction of more than 50 Iranian naval ships and severe damage to its air force and air defenses. “They have no leadership,” he said, adding that it had been “blown up,” without providing supporting detail.
At the same time, he warned the U.S. has not yet struck some of Iran’s most sensitive targets, including parts of its electricity infrastructure. He also threatened additional action if Tehran seeks to restrict energy flows or retaliate further.
Hormuz Threats Keep Energy Risks in Focus
Earlier Monday, an Iranian official suggested tankers moving through the Strait of Hormuz could be attacked, a warning that comes as shipping traffic remains thin. Trump argued the conflict will ultimately make global energy supplies more secure and said the U.S. could escalate if Iran withholds crude from markets.
While much of the oil transiting Hormuz is bound for Asia, the president framed the issue as a broader global supply risk that can feed back into U.S. prices and inflation expectations.
Mixed Messaging on Duration and “New Country” Remark
Asked whether the war would end this week, Trump said “no,” but reiterated it would conclude “very soon.” He also responded to a question about differing tones inside his administration, saying his forecast could coexist with Defense Secretary Pete Hegseth describing the conflict as “just beginning.”
“It’s the beginning of building a new country,” Trump said, while also stressing he does not want a prolonged U.S. military entanglement in the Middle East.
Trump also said he spoke with Vladimir Putin on Monday and described the Russian leader as “impressed” by the U.S. operation. Trump added he was “disappointed” by Iran’s reported selection of Mojtaba Khamenei as successor to his father, but declined to say whether he would target him.