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U.S. President Donald Trump said he hopes the seven-month war against Iran is nearing an end, even as the conflict spreads into Yemen and raises fresh concerns over Middle East oil supplies.
“Hopefully we are towards the end of the war,” Trump told reporters Wednesday, adding that Iran wants to reach an agreement and that Tehran had contacted the U.S. “directly.” He did not provide further details.
Trump’s comments came as Iran-backed Houthi forces intensified attacks against Saudi Arabia, while Saudi-backed forces carried out air strikes on Houthi positions in Yemen. The escalation follows Houthi advances along the Red Sea and attacks that damaged Saudi Arabia’s East-West oil pipeline.
The expanding conflict has heightened global energy-market concerns. Before the war, the Strait of Hormuz handled roughly 20% of global oil and liquefied natural gas shipments. Traders estimate that an extended shutdown of Saudi Arabia’s East-West pipeline could remove as much as 4% of global oil supply.
Brent crude hovered around $108 per barrel Wednesday, while U.S. diesel prices climbed above $6.30 per gallon to a record high. Oil prices eased early Thursday after reports that Saudi Arabia was offering additional crude cargoes through Oman. Brent futures fell 1.2% to $104.59 a barrel, while West Texas Intermediate declined 1.1% to $101.29.
The United States also tightened its Saudi Arabia travel advisory, barring government employees from traveling within 20 miles of the Yemen border.
Houthi military spokesman Yahya Saree said the group launched drones and missiles at the Saudi Red Sea oil hub of Yanbu and an airbase at Khamis Mushait. He also claimed Saudi forces conducted as many as 450 air strikes on Yemen this week.
Meanwhile, Axios reported that Trump is expected to meet Gulf Cooperation Council leaders or foreign ministers during the U.N. General Assembly to discuss the conflict. The reported talks would involve Saudi Arabia, the UAE, Qatar, Bahrain, Kuwait and Oman as Washington searches for a possible path toward ending the Iran war.
