Trump: New Iran attacks "quite unlikely"

President Trump stated on Monday that a renewed military campaign against Iran is "highly unlikely" and does not seem necessary. Speaking on Truth Social and at an impromptu press conference, Trump indicated he is not planning to resume war with Iran, though Axios noted he stopped short of declaring the war over. Trump told CNN that further war is unlikely as long as there is progress regarding Tehran’s nuclear programme and the reopening of the Strait of Hormuz, adding that Iran is "withering away financially" after being hit militarily.

Following these comments, oil prices fell on Monday. Brent crude dropped 1.83 per cent to $96.52 a barrel, while West Texas Intermediate traded 1.30 per cent lower at $89.65 a barrel, according to The National Business. The National Business reported that markets are pricing in the possibility of a diplomatic breakthrough between Washington and Tehran. Trump's comments come less than a week after he conceded the war was a reason for the Republican defeat in the midterm elections.

Brief written by urgent.news from Axios, The National Business — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.