Trump hopes Iran war is moving towards an end

U.S. President Donald Trump expressed hope that the ongoing war against Iran was nearing its end, as both Saudi Arabia and Iran escalated their conflict in Yemen. The war, which began on February 28, has expanded and intensified with Saudi airstrikes on Yemen and Houthi fighters launching attacks on Saudi cities. The Houthis' recent advance and attacks have significantly increased the risk of global oil shortages.

In response, the U.S. tightened its travel alert for Saudi Arabia, prohibiting government employees from traveling within 20 miles of the Yemen border.

Trump stated that he had heard directly from Iran, although he did not provide further details. He mentioned that Iran was interested in reaching a deal, but the situation remained uncertain. The price of Brent crude oil reached nearly $108 a barrel, nearing its highest level since May, while the average retail price of diesel fuel in the U.S. climbed to over $6.30 a gallon.

However, oil prices declined in early Thursday trading after reports of Saudi Arabia supplying extra crude through Oman eased concerns about supply disruptions in the Middle East.

The Trump administration is reportedly planning to meet with Gulf leaders, including those from Saudi Arabia, the United Arab Emirates, Qatar, Bahrain, Kuwait, and Oman, to discuss the next steps in the conflict during the U.N. General Assembly. The ongoing war and its impacts on global energy supplies have become a significant issue for Trump's Republican Party ahead of the November midterm elections.