Trump Vows Swift Victory Over Iran, Predicts Fuel Price Drop

U.S. President Donald Trump stated in a Fox News interview on Monday that the United States will "very soon" win the conflict with Iran, predicting that this victory will lead to a significant drop in global oil and fuel prices. Trump emphasized that achieving this outcome hinges on Iran not obtaining nuclear weapons, suggesting that victory would be secured through both economic sanctions and military actions.

The escalating tensions in the Strait of Hormuz have fueled concerns in the energy market, with predictions of a sharp increase in gasoline prices in Israel by 25 to 40 agorot per liter between Wednesday and Thursday. This rise in fuel costs, coupled with a weakening Israeli shekel against the dollar, threatens to negate the impact of government subsidies. Economists warn that the increase in energy prices will have a broad and immediate effect on the consumer price index in October, creating a domino effect that will raise transportation, shipping, manufacturing, and airfare costs.

Trump also rejected an Iranian proposal aimed at advancing a deal, a development that has contributed to a renewed surge in oil prices, with Brent crude exceeding $100 per barrel. Simultaneously, pressure persists in the U.S. bond market, with the 10-year Treasury yield trading at 5.22%. Trump asserted that the U.S. has already achieved a military victory but indicated that operations would continue.