Trump Says Renewed Iran Campaign 'Won't Last Long' After US Strikes

President Donald Trump said on Wednesday that a renewed U.S. military campaign against Iran would not continue for "too long," following what the source described as the most significant exchange of fire between Washington and Tehran since July. The comments came as heightened geopolitical risk in the Middle East contributed to a rise in global oil prices.

Details of US Action

Speaking to reporters in the Oval Office, Trump asserted that the U.S. had conducted a "very heavy attack last night" and was prepared to act again. He stated the strikes targeted new military equipment Iran was building along the Strait of Hormuz, a critical waterway for global energy shipments.

According to the president, the U.S. destroyed:

• A rocket system designed to drop mines.
• Recently restored Iranian radar and missile systems.

"We took out all of the new equipment that they tried to build along the Strait of Hormuz - some defensive, some offensive," Trump said, as reported by Reuters.

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Market Impact

The escalating tensions directly impacted commodity markets, a typical reaction to instability in the oil-producing region. As of Wednesday afternoon, key benchmarks were trading higher:

• Brent crude futures rose 0.81% to $95.42 per barrel.
• West Texas Intermediate (WTI) crude futures gained 0.63% to $90.79 per barrel.
• Gold futures, a traditional safe-haven asset, climbed 0.59%.

Any potential disruption to shipping through the Strait of Hormuz is a significant concern for energy markets, as a substantial portion of the world's seaborne oil passes through the chokepoint. The statements signal an increased risk premium for crude oil, which could translate to higher energy costs if the conflict persists.