US President Donald Trump said the conflict with Iran is expected to end, but he stressed that the war is unlikely to end this week
The statement was made as the conflict in the Middle East continues to raise concerns about the stability of global energy supplies.
Trump also signaled that Washington is ready to waive some oil-related sanctions to ensure global supplies remain adequate and curb rising energy prices.
The move is being considered after the Iran conflict disrupted the flow of world oil supplies.
He made the remarks during a press conference at his golf resort in Doral, Florida. According to Trump, the military operation against Iran is progressing faster than expected and the conflict is expected to end in the near future.
However, he ruled out the possibility of the war ending this week when answering questions from reporters.
Earlier, in a speech to House Republicans and donors, Trump described the war with Iran as a 'little tour'. The statement was repeated again in the same press conference.
Trump also claimed that much of Iran's top leadership and the country's military capabilities have been weakened. He also claimed that Iran is now running out of missiles after a series of attacks.
At the same time, Trump commented on the movement of global oil prices, which he said were rising but not as high as he had expected. He hinted that some oil-related sanctions might be eased until trade routes through the Strait of Hormuz were restored.
However, Trump did not specify which sanctions his administration would lift.
Last week, Washington granted a 30-day exemption to India to buy oil from Russia following supply disruptions caused by the conflict with Iran.
Trump's comments came after very volatile oil price movements on Monday. Global oil prices initially surged to almost $120 a barrel before falling back quickly to below $90 a barrel.
The conflict between the United States, Israel and Iran is now entering its tenth day with attacks on Tehran and retaliation from Iran continuing with no signs of abating anytime soon.
