US President Donald Trump said on Monday that the Iran war could be over “very soon” but left the possibility of an escalation in fighting open if global oil supplies are disrupted by Iran, after global energy prices soared following Tehran’s appointment of a new hardline supreme leader.
Oil prices briefly shot to their highest level since 2022 a day after Iran selected Ayatollah Mojtaba Khamenei to succeed his late father as Iran’s supreme leader. Investors saw it as a signal that Iran was digging in 10 days into the war launched by the United States and Israel.
