US President Donald Trump has forecasted an end to the ongoing conflict between the United States and Iran following the US midterm elections in November. Trump suggested that the resolution of the conflict would lead to a significant drop in oil prices. Speaking in Dublin, he accused Iran of trying to extend the conflict to sway the upcoming elections but expressed optimism that the situation could be resolved soon after the midterms.
In contrast, Iranian President Masoud Pezeshkian emphasized Iran’s preference for peace, asserting that the country does not seek war or prolonged hostilities. During remarks at the BRICS Summit in New Delhi, Pezeshkian stated that guaranteeing regional security should be the responsibility of local nations rather than relying on US intervention.
The conflict has had a notable impact on energy markets, particularly affecting the Strait of Hormuz—a critical chokepoint for global oil transport. The tensions have contributed to a significant increase in oil prices, with crude recently surpassing $100 per barrel.
Efforts to broker a settlement have so far been unsuccessful in achieving lasting peace, as hostilities continue at a reduced intensity. The situation has raised concerns about the long-term stability of regional security and the implications for global energy supplies.