Trump is now saying Iran war could end soon just as oil crisis escalates

Global oil supplies are projected to face twice the disruption this month compared to March, the International Energy Agency (IEA) warned on Wednesday, underscoring the critical need to resolve the ongoing conflict over Iran. This assessment comes as Donald Trump suggested the conflict could conclude swiftly.

While Mr Trump indicated a potential winding down of the conflict within weeks, even without a formal agreement, he simultaneously escalated threats to withdraw the United States from the NATO defence alliance. This, he stated, would occur if European nations failed to assist in preventing Iran from blocking the vital Strait of Hormuz.

"I was never swayed by NATO. I always knew they were a paper tiger, and (Russian President Vladimir) Putin knows that too, by the way," Mr Trump told the Daily Telegraph, asserting he had moved beyond merely reconsidering US membership. These remarks highlight Washington's often shifting and contradictory stance on a conflict that has claimed thousands of lives, spread across the region, and caused unprecedented energy instability.

"We'll be leaving (the Iran conflict) very soon," Mr Trump informed reporters, adding that this could be "within two weeks, maybe two weeks, maybe three." When questioned if successful diplomacy was a prerequisite for the US to end what it terms "Operation Epic Fury," he responded, "Iran doesn't have to make a deal, no."

Fatih Birol, head of the International Energy Agency, identified the primary issue stemming from Iran's effective closure of the Strait of Hormuz as a shortage of jet fuel and diesel. "We are seeing that in Asia, but soon, I think, in April or May, it would come to Europe," Mr Birol stated in a podcast with Nicolai Tangen, head of Norway's sovereign wealth fund. He reiterated that the oil loss in April would be double that experienced in March.

Businesses globally have been impacted by the conflict, with the cosmetics and tea sectors among the latest to report difficulties. The United States had previously threatened to intensify operations if Tehran did not accept a 15-point US ceasefire framework, which demanded Iran cease pursuing nuclear weapons or uranium enrichment and fully reopen the Strait of Hormuz.

The White House announced that Mr Trump would address the nation "to provide an important update on Iran" at 9 p.m. EDT on Wednesday. Meanwhile, Rubio told Fox News Channel's "Hannity" program there was potential for a "direct meeting at some point" and that the United States could "see the finish line." "It's not today, it's not tomorrow, but it is coming," Rubio added.