US President Donald Trump has predicted that the ongoing war with Iran will end “very quickly”, while forecasting a sharp decline in oil prices once the conflict comes to an end. Trump made the remarks after arriving in Texas and later during a visit to a Peterbilt Motors facility in Denton, where he discussed the conflict, energy prices and the US economy.
Trump said Iran faced a choice over how the conflict would conclude and portrayed the country as severely weakened economically and militarily. He cited what he described as 301 per cent inflation and claimed that Iran’s military, navy and air force had been defeated. Trump said the conflict would end soon “one way or the other” and predicted that oil prices would fall sharply once hostilities ended.
The President also said the United States could consider seeking the release of diesel stocks held by a European country to help ease fuel prices, although he did not identify the country. Trump acknowledged that oil prices remained elevated but argued that they were lower than during the administration of former President Joe Biden. He also reiterated that preventing Iran from acquiring a nuclear weapon remained a central US objective.
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During his later remarks at the Peterbilt facility in Denton, Trump again linked the conflict to energy prices. He said oil continued to move despite the war and Iranian restrictions around the Strait of Hormuz, and repeated his prediction that oil prices would fall once the conflict ended. Current market data, however, showed Brent crude around $102 a barrel and West Texas Intermediate near $93 on October 2, indicating that energy prices remained elevated amid continuing geopolitical concerns.
Trump also addressed a reported failed terror plot involving RAF Fairford in Britain, saying he could not confirm Iranian involvement but that it was “looking like that”. He did not present the allegation as confirmed. His comments came amid broader US statements about the objectives of Operation Epic Fury, which the White House has described as including efforts to destroy Iran’s missile capabilities and prevent Tehran from obtaining a nuclear weapon.
Alongside his comments on Iran, Trump used his Texas visit to discuss the US economy, pointing to the stock market, retirement accounts and investment in new factories. He argued that his administration had not received sufficient public credit for its economic record, describing its performance as a management success while acknowledging that its communication had been inadequate.
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