US President Donald Trump expressed optimism Monday that an agreement with Iran could be reached to reopen the Strait of Hormuz and bring an end to Tehran's nuclear program, pointing to a sharp decline in oil prices as a sign of growing expectations for a diplomatic settlement.
"Oil Prices are DROPPING LIKE A ROCK, down almost $10 a Barrel, A RECORD, because people feel that there will not be a War with Iran. Iran wants a settlement, as soon as possible. It could happen!" Trump wrote on Truth Social.
The President's remarks followed comments to reporters at the Lincoln Memorial in Washington, DC, where he said Tehran was interested in reaching an agreement with the United States.
“They want to make a deal. And it could happen."
Trump also reiterated his assertion that the United States had already achieved a military victory over Iran, arguing that the limited fighting in recent months meant the confrontation could no longer be described as an ongoing war.
"We had a war with Iran. We won, and I don't even know if you can call it a war because we haven't been fighting for months," he said, before adding, "It’s not a war. We’ve done very little fighting. We've wiped out their military and air force and we did everything we had to do."
The President attributed the decline in energy prices to American military successes, saying oil had fallen by $10 per barrel in a single day and predicting further decreases.
Trump also claimed that Iran was facing severe economic difficulties, including dwindling financial resources and inflation exceeding 300%.
On Sunday, Trump warned that Iran could face a decisive military blow if the conflict continued, saying his desire to avoid further loss of life was the only reason the United States had not already brought the war to an end.
Speaking at a campaign rally in Iowa ahead of Tuesday's midterm elections, Trump said, "The only reason we are not finished with Iran is because I want to be nice. I want to try and save all those lives if I can. But at some point, we're going to have to give them the hammer."
The President also predicted that the conflict would conclude shortly, although he did not provide a specific timetable.
Trump had expressed cautious optimism about diplomatic efforts during remarks to reporters Saturday night, describing negotiations with Iran as "going fine" and saying he was not "in much of a hurry" to reach an agreement.
However, he questioned Tehran's reliability, saying the Iranians "are not very reliable. ... They make a deal, and then they back out."
Trump also identified additional Iranian nuclear facilities as potential targets, including the suspected underground installation known as Pickaxe Mountain.
"We can do that in 10 minutes. We have that planned. You can look at Pickaxe Mountain. We need to take care of that. We can do that very quickly," he warned.
Meanwhile, indirect negotiations between Washington and Tehran continued under Qatari mediation.
Reports on Saturday indicated that preliminary understandings had been reached concerning Iran's nuclear program, maritime traffic through the Strait of Hormuz and possible economic incentives for Tehran.