Trump says the Iran conflict is "essentially over," and U.S. crude oil sharply retreats from the daily high

SnapshotLaborer · 2026-03-09T20:19:58+00:00

During a phone interview, Trump stated that the US-Iran war could end soon, with progress exceeding expectations. He remained silent on Iran's new leadership and mentioned that he already has a successor in mind. This news caused WTI crude oil futures to drop over 5.5%.

SnapshotLaborer

2026-03-09 20:19:58

Abstract generation in progress

According to CCTV News, on March 9th local time, U.S. President Trump stated that the war with Iran could end very soon.

In a phone interview, Trump said, “I think this war is basically over, almost. They (Iran) have no navy, no communication systems, and no air force.” Trump also mentioned that this progress is “much faster” than the initial 4 to 5-week timeframe he expected.

When asked about Iran’s new Supreme Leader, Muqtada al-Houthi, Trump said, “I have nothing to say about him, absolutely nothing.” Trump claimed that “there is already a candidate in mind to succeed Houthi,” but did not provide further details.

Following this news, WTI crude oil futures dropped over 5.5%, to $81.27, after initially rising to $119.50 during the Asia-Pacific session.

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