Key facts
- Trump said Iran "militarily is effectively over" and renewed US attacks were "highly unlikely."
- Trump said the US was "locked and loaded" should circumstances change.
- Trump cited "positive momentum" behind negotiations to end the Middle East conflict.
- Trump said he would not formally declare an end to the war because Gulf allies could still face Iranian aggression.
- Brent crude was more than 1% lower at $91.50 a barrel on Tuesday afternoon in Asia, per BBC News.
Donald Trump said on Monday that "Iran militarily is effectively over" and that renewed US attacks on Iran were "highly unlikely," adding that Washington was "locked and loaded" should circumstances change, BBC News reported. Speaking from the White House press briefing room, the US president said there was "positive momentum" behind negotiations to end the Middle East conflict and that the US was "just keeping it the status quo" at the behest of countries that are Iran's neighbors.
Trump said he would not formally declare an end to the war because some Gulf allies could still face Iranian aggression. "We have some great allies there and we have to make sure they're not hurt," he said, suggesting the US naval blockade on Iranian ports was helping make the region more secure. Iranian officials have repeatedly expressed doubts about Trump's prior comments about resolving the conflict.
BBC News reported that Trump has said the Iran war is "militarily" over before, but that circumstances differ now. The president has hinted at de-escalation after midterm election results that senior Republicans, including Vice-President JD Vance, blamed on the Iran war. Ahead of the midterms, Trump had said US forces conducted what he described as "minor strikes" on an Iranian island in the Strait of Hormuz. In an interview with 60 Minutes that aired on Sunday, he said he did not see "any reason" to escalate the conflict.
Global oil prices, which have fallen sharply since the midterms, dipped further after Trump's comments. On Tuesday afternoon in Asia, Brent crude was more than 1% lower at $91.50 a barrel, while US-traded crude was down 1.2% at $85.82, according to BBC News.