Trump Drops Major Hint, Suggests Iran War Will Be Over Soon

President Donald Trump dropped a major hint Monday that the Iran conflict may be nearing its end, saying the war could be over “very soon” and floating the idea of U.S. control over the Strait of Hormuz as markets swung on the latest developments.

Trump told CBS News in a phone conversation that he was considering seizing control of the Strait of Hormuz, the world’s most important oil chokepoint. He also suggested the fighting has largely run its course.

“The war is very complete, pretty much,” Trump said.

He doubled down at a separate press conference Monday, telling reporters the war will end “very soon.”

Markets reacted quickly. U.S. indexes, which were down earlier in the day amid war and oil fears, rebounded after Trump’s comments. Traders weighed his remarks against the risk of escalation in the Gulf, where Iran has issued fresh warnings about shipping.

The Strait of Hormuz is a narrow passage linking the Persian Gulf to the open ocean. It is critical for global energy markets, and Iran has signaled it is willing to threaten or disrupt traffic there as part of its retaliation strategy.

A spokesperson for Iran’s Ministry of Foreign Affairs, Esmail Baghaei, warned that oil tankers passing through the Strait “must be very careful.” Baghaei also told CNBC that Iran was not responsible for the war and claimed that targeting U.S. “military bases and assets” in the region was “legitimate under international law.”

Oil prices, which surged earlier on fears of supply disruption, eased in extended trading after Trump’s remarks. But investors and governments are still bracing for price shocks if shipping lanes remain restricted or if the conflict widens.

The anxiety is not limited to the United States. South Korea imposed a price cap on fuel products for the first time in 30 years after Monday’s spike, with President Lee Jae Myung saying the government would explore ways to diversify energy import sources as gasoline prices rise.

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The war has also sparked a strange side show online: prediction-market betting on how the conflict will unfold. That has triggered backlash and renewed scrutiny of what those markets should allow. Polymarket faced outrage last week after posting odds related to a nuclear detonation by year’s end before deleting the post and removing nuclear-related markets.

Energy analysts warn that oil is not the only market at risk if Hormuz stays clogged. Liquefied natural gas could be hit even harder because it is more difficult to reroute, and production is concentrated. Roughly 20% of global LNG flows through the Strait, much of it exported from Qatar, and gas prices have surged after Qatar halted output last week following an Iranian drone attack.

Trump’s latest comments are being read as both a warning and a signal. He is hinting that the war’s end is close,  but also making clear the U.S. is prepared to take aggressive action to secure Hormuz and keep global energy markets from spiraling.

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