US President Donald Trump said the Middle East conflict could end within two to three weeks, while Iran signaled readiness to conclude hostilities if key conditions are met.
Markets reacted positively to the remarks, with Asian stocks surging after gains on Wall Street. However, oil prices climbed amid concerns over disruptions to the Strait of Hormuz, a vital global energy route.
Despite cautious optimism, the economic toll is growing. US fuel prices have exceeded $4 per gallon, inflation is rising in Europe, and governments are rolling out support measures.
Trump suggested US forces may withdraw soon but stressed operations are ongoing, adding a deal remains possible. He also said the US would not intervene to reopen the Strait of Hormuz, urging other nations to act.
Iran’s leadership reiterated willingness to end the war, provided guarantees are in place to prevent further attacks.
Meanwhile, mixed signals persist. Israel has vowed to continue its campaign, and additional US troops are arriving in the region. Reports indicate the UAE may support efforts to reopen the strait, potentially escalating tensions.
Analysts warn that even if fighting eases, high oil prices above $100 per barrel could continue to drive inflation and slow global growth, with Asia expected to bear the brunt of the impact.
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