Latest Developments in the US-Iran Conflict
Donald Trump has made a strong statement regarding the ongoing conflict with Iran, asserting that US forces would “bring Iran back to the Stone Ages.” This declaration came during his first prime-time address to the American people since the start of the war. The situation remains tense as Iran has vowed a “crushing” response to the threats posed by the United States.
Oil Prices Surge and Asian Markets Plummet
Following Trump’s speech, oil prices saw a significant increase, while stock markets in Asia experienced a sharp decline. The Iranian closure of the Strait of Hormuz, in response to US-Israeli air strikes, has caused severe disruptions in global energy markets. Trump attributed the rise in oil prices to Iran’s actions, claiming it was a result of “deranged terror attacks against commercial oil tankers.”
Despite Trump’s assurance that the price increases would be short-term, the market remained concerned. Brent crude rose 5% to $106.22 per barrel, and benchmark US crude increased 4.2% to $104.36 a barrel. In Asia, Tokyo’s Nikkei 225 fell 1.4%, South Korea’s Kospi slid 3.4%, and Hong Kong’s Hang Seng dropped 0.8%. US stock futures sank 1%, and European futures fell over 1.5%.
Trump’s Claims of Military Success
In his address, Trump reiterated his claim that the US is close to completing the war, stating that Washington’s “core strategic objectives are nearing completion.” He highlighted what he described as military successes, including the curtailment of Iran’s ability to launch missiles and drones. According to Trump, Iran’s weapons factories and rocket launchers are being destroyed, and their navy and air force are in ruins.
“We’re going to hit them extremely hard over the next two to three weeks; we’re going to bring them back to the Stone Ages where they belong,” Trump said. He added that discussions were ongoing about the next steps, emphasizing that the US is “getting very close” to finishing the job.
Trump also referenced Defense Secretary Pete Hegseth’s claims that family members of US soldiers killed in the Iran war have urged the President to “finish the job.”
The Situation in the Strait of Hormuz
The near-closure of the Strait of Hormuz, a critical waterway through which around a fifth of the world’s crude oil normally passes, has led to rising oil prices and global market concerns. Trump downplayed the situation, stating that the US imports “almost no oil through the Hormuz Strait and won’t be taking any in the future.” He claimed that the US has “beaten and completely decimated Iran.”
Recent Events and International Reactions
As part of the live coverage of day 34 of the war in Iran, several key events have unfolded. US President Donald Trump claimed that the Iranian president wants a ceasefire, but Tehran dismissed the remarks as “false and baseless.” NATO Secretary-General Mark Rutte is set to visit the US next week to hold talks with Washington officials amid growing tensions between the Trump administration and other NATO allies over the Iran war.
Iran’s President Masoud Pezeshkian wrote an open letter to the American people, questioning whether America is truly a priority for the US government. Meanwhile, the International Energy Agency, the International Monetary Fund, and World Bank Group have formed a coordination group to better respond to the economic effects of the war.
In a recent attack, Iran fired a barrage of missiles at Israel’s largest city, Tel Aviv, shortly before the start of the Jewish festival of Passover. Israeli media reported that around 10 ballistic missiles were fired at central Israel, marking one of the largest such attacks since the early days of the war. Huge crowds gathered in Tehran for the funeral of Islamic Revolutionary Guard Corps (IRGC) commander Alireza Tangsiri, who was killed in an Israeli airstrike last week.
Lebanon’s Health Ministry reported at least seven people were killed in two Israeli strikes in the Beirut area. One of those killed was Hezbollah’s Southern Front commander, according to Israel.
