US President Donald Trump announced on Tuesday that the ongoing conflict with Iran would end 'very quickly' as Tehran wants to make a deal 'so badly.' Speaking at a press conference, Trump stated that oil prices would decline sharply in the coming period due to abundant supply. According to reports from Business Standard, Trump emphasized that 'there's so much oil out there, they're going to come plummeting down' and that 'you are going to see oil prices plummet' as there is so much oil available globally. Trump further stated that 'We're going to end that war very quickly. They want to make a deal so badly...You are going to see oil prices plummet. They're going to come down. There's so much oil out there, they're going to come plummeting down.'
The development comes amidst the US Senate passing a resolution seeking to limit President Trump's war powers in Iran earlier in the day. As reported by CBS News, Senators approved a motion to discharge the resolution from committee in a 50-47 vote, with four Republican lawmakers joining most Democrats in support of the measure. This was the eighth such attempt by Senate democrats to pass such a resolution. The resolution, introduced by Democratic Senator Tim Kaine, would direct the President to 'remove the United States Armed Forces from hostilities within or against Iran' unless explicitly authorized by a declaration of war or specific authorization for use of military force.
The current situation follows Trump's earlier announcement to put a 'planned attack' on Tehran on hold after appeals from Qatar, Saudi Arabia and United Arab Emirates (UAE). According to Trump's Truth Social post on Monday, Qatar Emir Sheikh Tamim bin Hamad Al Thani, Saudi Crown Prince Mohammed bin Salman and UAE President Mohamed bin Zayed Al Nahyan requested him to delay the scheduled American attack on Iran. Trump stated that 'I have been asked by the Emir of Qatar, Tamim bin Hamad Al Thani, the Crown Prince of Saudi Arabia, Mohammed bin Salman Al Saud, and the president of the United Arab Emirates, Mohamed bin Zayed Al Nahyan, to hold off on our planned military attack of the Islamic Republic of Iran, which was scheduled for tomorrow, in that serious negotiations are now taking place, and that, in their opinion, as Great Leaders and Allies, a Deal will be made, which will be very acceptable to the United States of America, as well as all Countries in the Middle East, and beyond.' Trump added that 'This Deal will include, importantly, NO NUCLEAR WEAPONS FOR IRAN!'
Democratic Senator Adam Schiff from California welcomed the Senate democrats' eighth attempt to pass the war powers resolution, stating they have 'once again forced a vote to demand an end to this unconstitutional war.' As reported by CBS News, the four Republican senators who voted with Democrats were Susan Collins, Lisa Murkowski, Rand Paul and Bill Cassidy. Senator Bernie Sanders also welcomed the resolution, saying the American people are opposed to spending 'billions on endless wars.' Sanders stated that 'Finally, Senate Republicans are starting to listen to their constituents. The American people do not want to spend billions on endless wars. They want to address the enormous crises facing our country. We must end this unconstitutional war.' Trump emphasized that any deal with Iran would 'include, importantly, NO NUCLEAR WEAPONS FOR IRAN' and that the US military remains 'prepared to go forward with a full, large-scale assault of Iran, on a moment's notice' if negotiations fail.
Oil prices eased on Wednesday following Trump's latest assertion that the Iran war would end quickly, though investors remain cautious about the outcome of peace talks. According to reports from Reuters, the market response reflects continued uncertainty about the conflict's resolution despite Trump's optimistic timeline. The easing of oil prices aligns with Trump's prediction of 'oil prices plummet' as abundant global supply becomes available, though investors remain wary about the outcome of peace talks amid continued Middle East supply disruptions from the ongoing conflict.
