Trump Says Iran War Will End 'Very Quickly', Predicts Oil Prices Will Fall As US Demands Nuclear Curbs

US President Donald Trump on Wednesday predicted that the seven-month war with Iran would end soon, claiming that oil prices would decline sharply once the conflict concluded.

Speaking to reporters before departing Washington for a Republican campaign rally in San Antonio, Trump asserted that the United States had eliminated Iran's nuclear power.

He claimed the military campaign had severely weakened Iran and said the conflict would end "very quickly".

Trump added that oil prices would "come tumbling down" after the fighting stopped.

Iran rejects Trump's claims over oil minister

Iranian government spokesperson Fatemeh Mohajerani rejected Trump's allegation that the country's oil minister had resigned because of pressure from the US military campaign.

According to Al Jazeera, Mohajerani described Trump's statement as an attempt to conceal his own failures.

She maintained that the resignation reflected flexibility within Iran's political system rather than institutional weakness.

Trump had earlier claimed that the Iranian minister resigned because the country's economy and oil sector had been devastated.

Meanwhile, Iranian Foreign Minister Abbas Araghchi said Tehran remained committed to defending itself while pursuing diplomatic efforts to protect its national interests and security.

Araghchi said Iran had presented a seven-day peace proposal to the US during its delegation's visit to the United Nations General Assembly in New York.

The proposal included reopening the Strait of Hormuz, a crucial route for international oil shipments.

However, Trump rejected the plan, prompting Washington to submit a counterproposal aimed at restarting negotiations.

US demands restrictions on Iran's nuclear enrichment

US Vice President JD Vance said Tehran must significantly reduce its nuclear enrichment capacity before Washington agrees to end the conflict.

In an interview with Reuters, Vance indicated that the US remained open to negotiations but wanted concrete commitments rather than assurances.

He questioned Iran's need for uranium enriched to 60% if it had no intention of developing nuclear weapons.

Vance said meaningful reductions in enrichment capacity would demonstrate Tehran's commitment to avoiding nuclear weapons development.

Both countries have exchanged proposals in recent weeks as diplomatic efforts continue to focus on ending the war and restoring shipping through the Strait of Hormuz.