Trump Expects Iran Conflict to End Soon Amid Progress on Hormuz Talks
US President Donald Trump has expressed optimism that the ongoing conflict with Iran will soon come to an end. In response to questions about energy prices, Trump stated that the war would end 'very soon' and noted that this situation 'cannot go on for a very long time'.
The US, Iran, and Oman are reportedly nearing a temporary agreement to reopen the Strait of Hormuz, a vital energy shipping route. Negotiations between the three countries aim to reduce tensions in the region and alleviate concerns about oil supply in the global market.
However, despite signs of progress in talks regarding Hormuz, international oil prices have increased. Brent crude oil rose by 3.83% to $82.49 per barrel, while US West Texas Intermediate (WTI) crude oil climbed 2.75% to $77.29 per barrel.
Meanwhile, the Iranian parliament is considering a bill that would ban ships from 'hostile' countries, including the US and Israel, from transiting through Hormuz. If implemented, vessels violating this proposed ban could face fines of up to 20% of their cargo value.