US President Donald Trump has said the war with Iran will end “very soon,” as crude oil prices fell in global markets on Tuesday amid signs of recovering oil supplies from the Middle East.
Trump made the remarks during the launch of America.gov, a new artificial intelligence-powered government platform, in Washington, DC. The platform was unveiled as part of the administration’s broader push to expand the use of AI in government services.
Speaking about Iran, Trump said the country was in a “very bad” situation. He again insisted that Iran would not be allowed to acquire nuclear weapons.
Referring to the ongoing conflict, Trump said the war would end “very soon.” He also said Iran would not obtain a nuclear weapon and that oil prices would come down.
Trump’s remarks came as diplomatic efforts to end the conflict continued. Reuters reported that US-Iran negotiations remained unsettled, despite continued efforts to pursue talks.
Oil prices fell notably on Tuesday. According to Reuters, Brent crude declined by $1.38 to $103.88 a barrel, while US West Texas Intermediate (WTI) crude fell $2.04 to $90.58 a barrel.
The decline came amid signs that crude oil flows from the Middle East were recovering. Reuters reported that the resumption of operations on Saudi Arabia’s East-West pipeline and oil loadings at Yanbu helped boost regional exports.
However, uncertainty remains in the global oil market as the Iran conflict, the situation around the Strait of Hormuz and the progress of US-Iran negotiations continue to affect energy supplies and market expectations.
