US President Donald Trump said that he expects the war with Iran to end soon, linking the end of the conflict to a decrease in gasoline prices in the US.
According to Trump, after the end of hostilities, gasoline prices in the US should return to pre-war levels or even below them. He did not specify a specific deadline for ending the conflict, nor did he announce a new negotiated truce.
The statement comes against the backdrop of a conflict between the US and Iran that has been ongoing for months and serious turmoil in the energy markets. Reuters reports that the war continues to put pressure on Washington both militarily and economically, and disruptions to shipping through the Strait of Hormuz remain one of the main factors behind high oil prices.
Brent ended trading on Friday at around $104.87 per barrel, while US WTI – around $100.30. The market remains highly sensitive to any information about attacks on energy infrastructure, traffic through Hormuz and possible diplomatic initiatives.
Trump also said earlier this week that he hoped the conflict was close to an end. On Wednesday, he said the US “hopes to be nearing the end” of the war. In parallel, talks are being prepared between the US president and the leaders of the Gulf Cooperation Council countries on the sidelines of the UN General Assembly in New York.
However, these statements should be viewed with caution. Reuters notes that Trump has repeatedly predicted a quick end to the war with Iran since the beginning of the conflict, while previous attempts to negotiate a cessation of hostilities have not led to a lasting settlement.
There has been no confirmed new peace agreement between Washington and Tehran so far. According to Reuters, negotiations between the US and Iran have not been held since June, and a number of key issues - including the future of Iran's nuclear program, the security of shipping through Hormuz and the role of Iran-backed groups in the region - are still at a standstill. remain unresolved.
The war is also having increasingly tangible consequences for the American economy. High oil prices are being passed on to gasoline and diesel prices, and the energy factor is becoming a sensitive domestic political issue ahead of the US midterm elections in November.
Against this backdrop, Trump's new statement is mostly a signal of the White House's expectations, rather than a confirmation of an already agreed-upon end to the war. The actual development will depend on the resumption of diplomatic contacts, Iran's behavior, and the situation around the Strait of Hormuz.