Trump Says Iran War Will End 'Very Soon'; Oil Flows Through Hormuz Show Signs Of Recovery

New Delhi: US President Donald Trump has said the Iran conflict will end “very soon”, as diplomatic efforts between Washington and Tehran continue through mediators and oil shipments through the strategically important Strait of Hormuz show signs of recovery.

Speaking in Washington on Tuesday, Trump described the Iran war as one of the most important actions of his administration and said he expected the conflict to come to an end soon.

“In the years to come, they will be writing the history of our country, and they will say the Iran war is one of the most important things that we did,” Trump said.

“That’ll be over with very soon,” he added, referring to the conflict.

Trump also predicted that oil prices would fall as the fighting comes to an end. His remarks came amid signs that crude shipments through the Strait of Hormuz, a crucial route for global energy supplies, are gradually recovering.

Oil Flows Through Hormuz Recover

According to Kpler data cited in reports, oil shipments through the Strait of Hormuz averaged around 13.2 million barrels per day over the past week. That is about 77% of the levels recorded before the conflict.

The improvement in shipments has eased some of the pressure on global oil markets. Brent crude fell 1.86% to $103.32 a barrel on Tuesday, while US West Texas Intermediate crude declined 2.11% to $90.65.

The recovery in oil flows comes as efforts continue to restore the movement of tankers through the waterway.

The Strait of Hormuz has remained at the centre of the conflict because of its importance to global energy supplies. Any prolonged disruption to the waterway could affect crude availability and push energy prices higher.

US-Iran Talks Continue Through Mediators

Trump’s remarks came as Washington and Tehran continue separate talks through mediators in an effort to find a way out of the conflict.

Iran has sought conditions including a ceasefire, sanctions relief and an end to the US naval blockade before fully reopening the Strait of Hormuz. Tehran has maintained that diplomacy is necessary to resolve the conflict.

The two sides have not reached a final agreement, with differences remaining over the terms for ending hostilities and reopening the key waterway.

Trump has also repeatedly said that Iran must not be allowed to develop a nuclear weapon. He has rejected reports that the US offered Tehran concessions in exchange for progress on the nuclear issue.

Trump Predicts Oil Prices Will Fall

Trump linked the expected end of the conflict to a decline in oil prices.

“And oil prices are going to be tumbling down just like they were before I had to make that little excursion to the Islamic Republic of Iran,” he said.

The comments came as markets reacted to signs that crude supplies from the Middle East were beginning to recover.

Regional crude exports also showed improvement in September, with Reuters reporting that exports reached their highest level since the conflict began in February. The recovery has helped ease some concerns over a prolonged supply disruption, although uncertainty surrounding the conflict and the Strait of Hormuz continues to influence oil markets.

For now, diplomatic efforts remain underway, while the recovery in oil shipments through Hormuz provides an indication that energy flows are gradually returning towards pre-conflict levels.

ALSO READ: 'No External Party Has Any Locus Standi': India Slams Turkish President Erdogan's Kashmir Remarks at UNGA