U.S. President Donald Trump stated on Wednesday that he hopes the war against Iran is approaching its conclusion, noting that Iran wants to make a deal
. The conflict, which began on February 28 when the United States and Israel launched attacks on Iran, has now entered its seventh month.
Trump Expresses Hope for End to Iran Conflict
Speaking to reporters, Trump claimed he had heard from Iran “directly,” though he did not provide further details regarding the nature of the communication. The comments follow a period of escalation where Tehran responded to initial U.S. and Israeli attacks with strikes against Israel and Gulf states that host U.S. military bases.
Diplomatic Efforts and Postwar Planning
President Trump is expected to meet with leaders or foreign ministers from the six Gulf Cooperation Council countries—Saudi Arabia, Oman, Kuwait, Bahrain, Qatar, and the United Arab Emirates—next Tuesday. According to Axios, this meeting will take place in New York on the sidelines of the United Nations General Assembly.
The discussions are expected to focus on the next phase of the war and U.S. proposals for a postwar strategy. Trump and his senior team are reportedly developing a broader day-after plan,
which is expected to be finalized following the November midterm elections. While the State Department sent initial invitations on Wednesday, the White House has declined to comment on the reported meeting.
Escalation in Yemen and Saudi Arabia
The broader conflict has expanded into Yemen, where fighting has intensified between Saudi Arabia and Iran-backed Houthi forces. Houthi military spokesman Yahya Saree stated the group launched missiles and drones at an airbase at Khamis Mushait and the Saudi Red Sea oil port of Yanbu. Saree also claimed that Saudi forces conducted up to 450 air strikes on Yemen within the week.
The Houthis have advanced along the Red Sea coast, prompting the United States to tighten its travel warning for Saudi Arabia. U.S. government employees are now barred from traveling within 20 miles of the Yemen border.
Global Energy Market Disruptions
The expansion of hostilities has created significant risks for global energy supplies. The conflict has already disrupted shipping through the Strait of Hormuz, a waterway that handled approximately 20% of global liquefied natural gas and oil supplies before the war. Preliminary ship-tracking data from Wednesday indicated only three commercial vessels crossed the strait.
Additional pressure has mounted due to Houthi attacks on Saudi Arabia’s East-West oil pipeline. Traders warn that a sustained closure of this pipeline, which serves as an alternative to the Strait of Hormuz, could remove up to 4% of the global oil supply.
These disruptions have impacted prices:
- U.S. Diesel: Reached a new record, surpassing $6.30 per gallon.
- Brent Crude: Traded near $108 a barrel on Wednesday.
- WTI: Declined 1.1% to $101.29 during early Thursday trading.
Oil prices eased early Thursday following reports that Saudi Arabia was offering additional crude cargoes through Oman, causing Brent futures to fall 1.2% to $104.59 a barrel.
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