Trump says Iran war to end 'fairly soon,' plays down prospects of new strikes

Key Points:

• U.S. President Donald Trump expressed optimism that the war with Iran could end "fairly soon," noting that Tehran was "talking very politely" with Washington and citing momentum toward ending the conflict.
• Trump claimed Iran's military capabilities were effectively diminished due to naval losses and economic inflation, while reaffirming that Iran would not be allowed to acquire nuclear weapons and keeping the option of renewed strikes open.
• The U.S. and Gulf allies maintain a naval blockade and "Operation Iron Gate" to prevent Iran from transporting advanced weapons, with Qatar reportedly mediating talks and Iran proposing a two-day plan demanding sanction relief and new shipping routes.
• Despite Iranian officials denying ongoing talks and accusing Washington of spreading false information, oil prices fell on hopes of de-escalation, with U.S. West Texas Intermediate and Brent crude dropping to near 10-week lows.
• The conflict, now in its ninth month, has significantly impacted global fuel prices and economic sectors, while U.S. war rhetoric has softened following Republican losses in the midterm elections amid voter frustration over rising living costs.