Washington, October 8, 2026 (Yes Punjab News)
US President Donald Trump has said the conflict with Iran will end “very soon” and predicted a sharp fall in global oil prices once the war is over, while reiterating that Tehran would not be allowed to acquire a nuclear weapon.
Speaking at a Republican campaign rally in San Antonio, Texas, Trump defended the US military operation against Iran and said his administration remained determined to prevent the country from obtaining nuclear weapons.
“And just as I promised, I am ensuring that Iran will never have a nuclear weapon. They will never. They know that,” Trump told supporters.
Indicating that US involvement in the conflict could be nearing its end, Trump said: “And we’ll be out of there soon, and you watch those oil prices come down like a rock and watch everything — everything else is coming down.”
Trump argued that previous US administrations had failed to address Iran’s nuclear ambitions and said military action had become necessary.
He acknowledged that the conflict had pushed up oil prices but maintained that the increase had been smaller than some earlier expectations. According to Trump, some had predicted prices could rise threefold, fourfold or even fivefold because of the military operation.
At a separate White House event, Trump again said the conflict would end soon.
“Oil will drop like a rock as soon as we’re finished with the war, which will be very soon,” he said.
Treasury Secretary Scott Bessent also linked elevated borrowing costs and inflation to the Middle East conflict, saying headline inflation had been affected by an energy shock.
Bessent said underlying inflation had eased and predicted that energy markets would become better supplied once the conflict ended, helping inflation move towards the Federal Reserve’s target and putting downward pressure on mortgage rates and the 10-year Treasury yield.
Trump also referred to diplomatic efforts involving his special envoy Steve Witkoff, who has been engaged in negotiations concerning Iran.
“He’s working on the Iran deal and doing very well,” Trump said.
However, Trump indicated that he remained reluctant to accept an agreement simply to end the confrontation. He said Iran was willing to offer concessions to stop the conflict but reiterated that Tehran would not be allowed to obtain a nuclear weapon.
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