WHAT YOU NEED TO KNOW
- Trump said the United States is “hopefully” nearing the end of its nearly seven month war with Iran.
- Houthis backed by Iran are attacking Saudi targets and seeking control of the strategic Bab el-Mandeb Strait.
- Trump plans to meet Gulf leaders in New York next Tuesday to discuss the war and postwar proposals.
- Brent crude fell 1.5% to $104.28, while West Texas Intermediate declined 1.1% to $101.30.
President Donald Trump says the United States is “hopefully” approaching the end of its nearly seven month war with Iran, even as the wider Middle East conflict expands into Yemen and rattles global oil markets.
“Well, hopefully we are toward the end of the war. They want to make a deal, we’ll see how that works out,”
Trump delivered that assessment to reporters in North Carolina on Wednesday evening.
He also said he had spoken with Tehran “directly,” although he did not provide further details about that communication.
The sprawling conflict began on Feb. 28 and has since widened into Yemen.
Fighting is now escalating between Saudi Arabia and the Houthis, militants backed by Iran who have stepped up attacks against Saudi targets.
The Houthis have also launched a rapid ground offensive aimed at exercising control over the Bab el-Mandeb Strait.
