U.S. President Donald Trump said on Monday that he sees an eventual end to the conflict with Iran, but that the confrontation is not likely to be resolved within the current week. Speaking at a press briefing held at his Doral golf resort in Florida, the president reiterated that the operation against Iran was progressing faster than anticipated and predicted it would be over "very soon."
When pressed by a reporter on whether the conflict would end this week, Trump replied in the negative. Earlier in the day, during remarks to House Republicans and donors at Doral, he characterized the action against Iran as a "little excursion," a phrase he repeated at the press conference.
Trump framed the military campaign as largely successful to date. "We could call it a tremendous success right now, or we could go further. And were going to go further," he told reporters. He asserted that Iran's top leadership and much of its military capability had been largely wiped out and that the country was running out of missiles.
On energy and markets, the president said oil prices had risen "probably less than I thought they'd go up," and announced that the United States would waive some oil-related sanctions until safe passage through the Strait of Hormuz was restored. He did not provide details about which specific sanctions would be lifted.
The statement on sanctions follows recent temporary measures by Washington: last week the U.S. granted India a 30-day waiver to continue buying Russian oil amid supply disruptions attributed to the situation with Iran.
Oil markets reacted sharply on Monday, with prices initially spiking to nearly $120 a barrel before reversing course and falling back below $90 a barrel in a volatile session. The price swings underscored market sensitivity to supply concerns tied to the conflict.
The U.S.-Israel conflict with Iran entered its tenth day this week, with strikes against Tehran and reciprocal attacks continuing through Monday evening and showing few signs of abating.
Summary
President Trump said the Iran conflict is moving ahead of schedule and is expected to end soon, but not this week. He announced partial waivers of oil-related sanctions to help ensure sufficient supply and to moderate prices, while declining to identify which measures would be suspended. Oil markets saw extreme volatility on Monday amid the ongoing strikes and retaliatory attacks.
Key points
- President expects the conflict with Iran to conclude soon but ruled out an end this week.
- The U.S. will temporarily waive certain oil-related sanctions to support supply and lower prices; the specific sanctions were not named.
- Oil markets experienced a sharp intraday swing from nearly $120 a barrel down to under $90 a barrel, reflecting supply concerns tied to the conflict.
Impacted sectors
- Energy - oil supply and pricing volatility.
- Shipping and maritime transit - passage through the Strait of Hormuz.
- Financial markets - commodity and broader market sensitivity to geopolitical developments.
Risks and uncertainties
- Continued military action - strikes and retaliatory attacks have persisted into the tenth day, creating uncertainty for oil supply and regional stability.
- Sanctions ambiguity - the president did not specify which oil-related sanctions will be waived, leaving markets without clarity on the scale or duration of relief.
- Price volatility - recent large intraday swings in oil prices indicate elevated market vulnerability to further geopolitical developments.