Donald Trump announced during a virtual rally that the United States will declare a total victory over Iran within two weeks, stating the U.S. has “decimated” Iran’s military and top leadership.
He predicted that oil prices will tumble sharply following the declaration.
The comments followed Iran and Israel’s agreement to halt recent hostilities, which had already eased oil prices, though they remain higher for the year.
Brent crude (LCO) fell 0.89% and U.S. crude (CL) fell 1.25% after the announcement.
The U.S.-Israel war on Iran entered its fourth consecutive month in June, despite Trump’s repeated claims of an imminent end.
Iran rebuked the peace‑deal claims, stepped back from indirect negotiations with Washington, and continues to launch strikes across the Middle East while keeping the Strait of Hormuz largely blocked.
The latest hostilities were linked to Israel’s campaign in Lebanon; Tehran insists any comprehensive peace must include Lebanon.
