U.S. President Donald Trump said on Monday (March 9) that the war against Iran could be short-lived, but he left open the possibility of an escalation in fighting if global oil supplies are disrupted by the Islamic Republic, which chose a new hard-line supreme leader.
Oil prices briefly shot to their highest level since 2022 a day after Iran selected Ayatollah Mojtaba Khamenei to succeed his late father as Iran's supreme leader. Investors saw it as a signal that Iran was digging in 10 days into the war launched by the United States and Israel.
West Asia conflict oil hike, market reactions LIVE updates
But prices later fell and U.S. stocks rose on hopes that the war with Iran may not last much longer.
"We took a little excursion" to the Middle East "to get rid of some evil.
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