Speaking to reporters as he left the White House, Trump said that oil prices would decline as soon as Iran surrenders and the war comes to an end. He said he believed the conflict could end very soon.
Trump had rejected an Iranian proposal to reopen the Strait of Hormuz within seven days, describing the offer as unacceptable. Iran has said reopening the strategic waterway would depend on several conditions being met.
Meanwhile, The Wall Street Journal has reported, citing US officials, that the Trump administration expects US airstrikes against Iran could resume after the November midterm elections.
Iranian officials have proposed reopening the Strait of Hormuz within seven days if specific conditions are met, including an end to hostilities and changes to US military and economic measures.
Iranian Foreign Minister Abbas Araghchi, speaking to reporters in New York on the sidelines of the United Nations General Assembly, said the current situation was not unexpected for Tehran and that Iran was fully aware of developments in the region.
Iran has maintained that the conditions it has presented for reopening the Strait remain unchanged, while saying that diplomacy is the way forward.
