US President Donald Trump suggested the war with Iran could end soon, offering reassurance to global markets rattled by escalating hostilities across the Middle East.

Speaking on Monday, Trump said the conflict might be short-lived, even as Washington warned Tehran against disrupting oil shipments through the strategic Strait of Hormuz. The waterway, through which nearly one-fifth of the world’s crude oil normally passes, has been largely blocked during the conflict, triggering sharp swings in global energy markets.

The war initially sent stock markets tumbling and oil prices soaring above $100 a barrel their highest level since the Russian invasion of Ukraine. However, markets rebounded after Trump’s remarks hinted at a potential quick resolution. Wall Street closed higher, while Asian markets in Tokyo and Seoul opened strongly on Tuesday. Oil prices also fell by about five percent after Monday’s spike.

“It’s going to be ended soon, and if it starts up again they’ll be hit even harder,” Trump told reporters during a news conference in Florida.

The conflict has intensified since Mojtaba Khamenei, the son of slain leader Ali Khamenei, assumed leadership in Tehran. Iranian forces launched fresh missile and drone attacks targeting Gulf states including Saudi Arabia, Bahrain, Qatar, and the United Arab Emirates, as well as Israel. Another missile was also fired toward Turkey, a member of NATO, but was intercepted by the alliance’s air defenses.

According to AFP, Iran’s Revolutionary Guards responded to Trump’s statements by saying that Tehran not Washington would decide when the war ends.

Diplomatic attention has increasingly focused on reopening the Strait of Hormuz. Emmanuel Macron said France and its allies were preparing a “purely defensive” naval mission aimed at escorting ships through the strait once the most intense phase of the conflict subsides. Analysts warn such operations could expose naval forces to attacks from Iran’s coastline.

Meanwhile, Iranian foreign policy adviser Kamal Kharazi indicated Tehran believes mounting economic pressure could push other countries to intervene diplomatically and force an end to the war.

Despite signaling optimism, Trump also left open the possibility of further escalation, warning that the United States would respond forcefully if Iran attempted to halt global oil shipments through the Strait of Hormuz. He also claimed Iran’s military capabilities had been largely degraded, saying its navy, communications networks and air force had been severely weakened during the conflict.

BOB Post