President Donald Trump has projected that the ongoing conflict between the United States and Iran might conclude following the US midterm elections in November. Speaking in Dublin, Trump expressed optimism that the cessation of hostilities would lead to a significant drop in oil prices, which have been elevated due to the tensions.
Trump suggested that Iran might be extending the conflict to sway the outcome of the US elections. However, he remained hopeful that an end to the conflict could be in sight shortly after the midterms. He emphasized his belief that oil prices would decrease substantially once the conflict is resolved.
In contrast, Iranian President Masoud Pezeshkian reiterated Iran’s stance against war, stating that peace is a priority for his nation. Speaking at the BRICS Summit in New Delhi, Pezeshkian emphasized that regional security should be managed by countries within the region rather than relying on US intervention.
The conflict has notably affected energy markets, particularly with the ongoing tensions around the Strait of Hormuz, which have contributed to a sharp increase in oil prices. Recently, crude oil prices have surpassed the $100 per barrel mark, reflecting the heightened instability in the region.
Despite efforts to reach a diplomatic settlement, significant progress has yet to be achieved, and hostilities continue at a reduced intensity. This persistent uncertainty has sparked concerns about the future of regional security and the stability of global energy supplies.