The market rally came after CBS posted comments from a phone interview with Trump on X. The President indicated the war could be over soon, stating the conflict is "very complete, pretty much" and noting Iran has lost significant military capabilities including its navy, communications systems, and air force. Trump added that the U.S. is "very far" ahead of his initial 4-5 week estimated timeframe.
Oil prices retreated from their highest levels since mid-2022 following Trump’s remarks. Earlier in the session, crude had climbed due to supply constraints from shipping disruptions as the U.S.-Israeli conflict with Iran entered its tenth day.
Trump warned Iran against further action, saying the country has "shot everything they have to shoot, and they better not try anything cute or it’s going to be the end of that country."
Regarding the Strait of Hormuz, Trump noted that ships are currently moving through the waterway but said he is "thinking about taking it over." When asked about Iran’s new Supreme leader Mojtaba Khamenei, whom Trump has publicly criticized, the President said he has "no message for him" and indicated he has someone in mind to replace Khamenei but did not provide details.
source https://www.investing.com/news/stock-market-news/trump-suggests-iran-war-nearing-end-4550410
