Trump Says Iran War Will ‘Be Over Quickly’ as Strait of Hormuz Tensions Rise
US President Donald Trump said Wednesday that the conflict with Iran will “be over quickly,” even as Tehran seeks to assert control over the Strait of Hormuz, the world’s most critical oil shipping chokepoint.
Speaking to reporters at the White House, Trump said military operations are progressing well and fighting is not expected to last long. However, Iran has claimed sovereign rights over the strait, which handles approximately one-fifth of global crude oil transportation.
According to CBS News, the White House is evaluating military options to reopen the Strait of Hormuz. A US official denied reports that preparations are underway to resume “Operation Freedom to Reopen the Strait,” calling the reports “inaccurate.”
German Finance Minister Lars Klingbeil criticized what he called Trump’s “irresponsible war,” saying the Iran conflict is already causing measurable harm to the German economy and contributing to a broader global slowdown.
Shell reported nearly $7 billion in quarterly profits, driven by oil price surges linked to the Iran conflict. The company’s CEO warned that the oil market remains in a supply deficit with no immediate relief in sight.
Markets reacted cautiously: the Dow Jones fell back below 50,000, while the S&P 500 and Nasdaq pulled back from record highs as investors closely monitor oil prices and Iran developments.
Key Developments
- Trump claims Iran conflict will end soon; Tehran asserts Hormuz control
- US official denies reports of military preparations to reopen the strait
- German minister blames US war for economic slowdown
- Shell posts $7B profit on oil surge; CEO warns of tight supply
- Dow drops below 50,000 as markets watch Iran situation