WASHINGTON — United States President Donald Trump said the US could soon exit its ongoing conflict with Iran, even without a diplomatic agreement, as global energy markets face escalating disruptions linked to the crisis.
“We’ll be leaving very soon,” Trump told reporters, indicating a possible withdrawal within “two weeks, maybe three.” He added that a deal with Iran was not a prerequisite for ending what Washington has called “Operation Epic Fury.”
The remarks came as the International Energy Agency warned that global oil supply losses in April could double compared to March, largely due to Iran’s effective closure of the strategically vital Strait of Hormuz. The disruption has already led to shortages of jet fuel and diesel, initially in Asia and expected to spread to Europe in the coming months.
At the same time, Trump escalated rhetoric toward the NATO alliance, suggesting the United States could withdraw if European members fail to help counter Iran’s blockade of the Strait. In an interview with the Daily Telegraph, Trump described NATO as a “paper tiger,” adding that he had moved beyond merely reconsidering US membership.
The conflicting signals from Washington reflect broader uncertainty surrounding the conflict, which has killed thousands, expanded across the Middle East, and triggered widespread economic repercussions. Businesses worldwide, including sectors such as cosmetics and tea, have reported mounting losses.
US officials have previously threatened to intensify military operations unless Tehran agrees to a proposed ceasefire framework, which includes halting uranium enrichment and reopening the Strait of Hormuz. The White House said Trump would deliver a national address to provide further updates on the situation.
US Secretary of State Marco Rubio suggested that diplomatic progress remains possible, telling Fox News there could be a “direct meeting at some point” and that the US could “see the finish line,” though not immediately.
Meanwhile, violence continued across multiple fronts. Drone strikes hit fuel storage facilities at Kuwait’s international airport, sparking a large fire, while Bahrain reported a blaze at a company site attributed to an Iranian attack. In Qatar, an oil tanker linked to QatarEnergy was struck by a cruise missile, sustaining damage but causing no casualties or environmental harm.
Explosions were also reported in Tehran following US-Israeli air strikes, according to Iranian state media. Iran, in turn, has repeatedly targeted Gulf states hosting US military bases, further raising tensions in the region.
The strategic importance of the Strait of Hormuz, through which roughly one-fifth of global oil and liquefied natural gas passes, has made its disruption a central concern for global markets. Despite earlier gains, oil prices fell more than 3 percent on Wednesday following Trump’s remarks about a potential US withdrawal, while regional stock markets posted significant gains.
Domestically, rising fuel prices are placing pressure on US households and posing political challenges ahead of the November midterm elections. A Reuters/Ipsos poll found that two-thirds of Americans believe the US should move quickly to exit the Iran conflict.
US Defense Secretary Pete Hegseth urged allied nations to contribute to reopening the Strait, echoing Trump’s criticism of NATO members such as Britain and France. Rubio added that Washington would reassess its relationship with NATO after the conflict.
Reports also indicate that the United Arab Emirates is preparing to support efforts to reopen the Strait by force, potentially seeking backing from the UN Security Council.
Iran’s Revolutionary Guards issued fresh threats against US-linked companies operating in the region, naming major firms including Microsoft, Google, Apple, Intel, IBM, Tesla, and Boeing.
The conflict has further widened, with Yemen’s Houthi forces launching coordinated missile attacks on Israel alongside Iran and Hezbollah. Israeli air defenses intercepted incoming threats, though debris caused damage in several areas.
In Lebanon, renewed fighting between Israel and Hezbollah has resulted in civilian casualties, while Indonesia has called for a United Nations investigation into the deaths of its peacekeepers following Israeli strikes in southern Lebanon.
As tensions persist, the trajectory of the conflict and its global economic consequences remains uncertain.