On Friday, President Donald Trump signaled the U.S. is nearing its military goals in the conflict with Iran while once again ruling out any immediate ceasefire despite rising global economic fallout due to the war.
Trump Rejects Ceasefire, Signals Continued Offensive
“We could have dialogue, but I don’t want to do a ceasefire,” he told reporters, adding, “You don’t do a ceasefire when you’re literally obliterating the other side,” CNBC reported.
He also said that Iran’s military capabilities have been significantly weakened, saying, “From a military standpoint, they’re finished.”
Strait Of Hormuz Disruption Fuels Oil Shock
The conflict has disrupted traffic through the Strait of Hormuz, a critical artery for global oil shipments, sending crude prices higher and rattling markets.
“We are getting very close to meeting our objectives as we consider winding down our great Military efforts in the Middle East with respect to the Terrorist Regime of Iran,” Trump said on Truth Social.
Trump downplayed the impact on the U.S., instead urging other nations to step in.
“The United States does not [need to police it],” he wrote, adding that countries reliant on the route should take responsibility. “If asked, we will help … but it shouldn’t be necessary once Iran’s threat is eradicated.”
Meanwhile, reports indicate the Pentagon is deploying up to 2,500 additional Marines to the region, even as Trump reiterated that no ground invasion is planned.
Mojtaba Khamenei Says Iran ‘Defeating’ Enemies
Meanwhile, Mojtaba Khamenei said Iran’s adversaries were being “defeated” in a written message marking Nowruz.
In remarks broadcast on Iranian state television Friday, Khamenei also said that Iranians have “dealt him [the enemy] a dizzying blow so that he now starts uttering contradictory words and nonsense,” Gulf News reported.
Stock Futures Fall As Oil Prices Surge
On Friday’s closing, U.S. equity futures moved lower in late trading. Dow futures fell 231 points, or 0.50%, to 46,110, while S&P 500 futures declined 71.50 points, or 1.07%, to 6,588.50. Nasdaq 100 futures dropped 362.75 points, or 1.48%, to 24,217.25.
WTI crude futures rose 2.66% to $98.09 per barrel. RBOB gasoline futures surged 5.82% to $3.3092 per gallon, while ULSD heating oil futures jumped 7.59% to $4.6715 per gallon. Meanwhile, natural gas futures fell 2.21% to $3.096 per MMBtu (million British thermal units).
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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