Trump predicts swift end to war in Iran while in Dublin
US President Donald Trump, during a trip to Dublin, Ireland, said that the war in Iran could, in his view, end soon after the US midterm elections in November. He also predicted a sharp drop in oil prices after the war ends.
As CNBC Top News reports, oil prices fell on Friday but rose significantly over the week after surpassing $100 per barrel. Brent futures closed down 2.8% at $104.61 per barrel, while US WTI fell 2.4% to $100.05. A day earlier, Brent had risen to about $108, while WTI had climbed above $104 per barrel.
Talks on the Strait of Hormuz
The price decline followed reports by Iranian state media about a planned meeting in Oman between Tehran and representatives of Persian Gulf states regarding the Strait of Hormuz. According to MS NOW, cited by CNBC, Iranian officials and representatives of Gulf countries were due to meet in Muscat on Monday to sign an agreement on creating a shipping route between Iran and Oman through the strait.
At the same time, Iranian President Masoud Pezeshkian said in New Delhi that his country had no intention of surrendering. He said that Iran had successfully resisted the United States and Israel and would not yield to pressure.
More current news is available on the UA.News Telegram channel Telegram.
Attack on Saudi Arabia's oil pipeline
Trump also suggested that Iran was likely involved in attacks on Saudi Arabia's east-west oil pipeline. Saudi authorities said they had shut down the pipeline as a precaution after several drone attacks launched from Iraq. According to them, the drones caused fires and damage at sites in the Riyadh and Medina regions, and several people were injured.
The pipeline, with a capacity of 7 million barrels per day, leads to export terminals on the Red Sea. Trump said he had discussed the attack with Saudi Crown Prince Mohammed bin Salman. He also said that Yemen's Houthis, whom CNBC describes as backed by Iran, had contacted his administration and did not want to fight the United States.
CNBC noted that reports of the Houthis' capture of Perim Island had not been independently confirmed by the outlet. According to the publication, this happened the day after the Houthis captured the port city of Mocha on the Red Sea coast. Perim Island is located in the Bab el-Mandeb Strait, which connects the Red Sea with the Gulf of Aden.
