Trump Says Iran War Will End 'Very Quickly', Predicts Oil Prices Will Fall As US Demands Nuclear Curbs

US President Donald Trump confidently forecasted that the ongoing seven-month conflict with Iran would conclude swiftly, projecting that oil prices would plummet once the hostilities ceased. Addressing journalists before heading to a Republican rally in San Antonio, Trump stated that the US had dismantled Iran's nuclear capabilities.

He emphasized that the military operation had significantly weakened Iran, asserting that the war would conclude "very quickly." Trump also claimed that oil prices would "come tumbling down" following the end of the fighting. Iran's government spokesman, Fatemeh Mohajerani, dismissed Trump's allegations, stating that the purported resignation of Iran's oil minister was merely a response to pressure from military actions.

She argued that the resignation indicated flexibility in Iran's political structure rather than institutional frailty. Earlier, Trump alleged that Iran's oil minister resigned due to the devastation of the nation's economy and oil sector. Meanwhile, Iranian Foreign Minister Abbas Araghchi reaffirmed Iran's commitment to defending itself while engaging in diplomatic efforts to safeguard its national interests and security.

He disclosed that Tehran had presented a seven-day peace proposal to the US during its visit to the UN General Assembly in New York, which included reopening the Strait of Hormuz, a vital channel for global oil transportation. However, Trump rejected the proposal, leading Washington to present a counterproposal to recommence negotiations.

Vice President JD Vance stated that Tehran must substantially diminish its nuclear enrichment activities before the US would acquiesce to ending the conflict. In a Reuters interview, Vance expressed that Washington remained open to negotiations but demanded tangible commitments instead of mere assurances. He questioned the necessity of uranium enriched to 60% if Iran had no intention of developing nuclear weapons, suggesting that meaningful reductions in enrichment capacity would demonstrate Iran's dedication to abstaining from nuclear weapon creation.

Both nations have exchanged proposals in recent weeks as diplomatic endeavors persist in aiming to cease the war and restore maritime traffic through the Strait of Hormuz.