![\"Callum](\"https:\/\/www.newsbeep.com\/us\/wp-content\/uploads\/2026\/03\/Callum_Jones.png\")
Callum Jones<\/p>\nOil prices fall sharply after Trump claims war will be over ‘very soon’Callum Jones<\/p>\n
Oil prices have tumbled back from the four-year highs they hit on Monday after Donald Trump suggested the US-Israel war on Iran<\/a> could end \u201cvery soon\u201d.<\/p>\n It has been an extraordinary 24 hours in global markets.<\/p>\n This time yesterday, Brent crude, the international benchmark, surged beyond $100 per barrel<\/a> for the first time since Russia\u2019s invasion of Ukraine in 2022 \u2013 triggering stark sell-offs across leading Asian and European stock indices. Wall Street also started the day under pressure in New York.<\/p>\n Then Trump, who pays close attention to market movements, started talking. The war on Iran as \u201cvery complete, pretty much<\/a>\u201d, the US president claimed in an interview with CBS News.<\/p>\n Brent crude, which climbed as high as $119.50 per barrel on Monday, fell back sharply to settle at $98.96. On Wall Street, the S&P 500 clawed out of the red to finish the day higher.<\/p>\n Share<\/a><\/p>\n Updated at\u00a019.34 EDT<\/p>\n Key events<\/p>\n Show key events only<\/p>\n Please turn on JavaScript to use this feature<\/p>\n Australia to deploy aircraft and missiles to Gulf The Australian government has said it will deploy a military surveillance plane to the Gulf as 12 countries in the region face attacks from Iran<\/a>.<\/p>\n The government confirmed the deployment of the E-7A Wedgetail was at the request of the United Arab Emirates and said it would also provide advanced medium range air-to-air missiles to the UAE.<\/p>\n The Australian prime minister Anthony Albanese, said the deployment would be in a defensive, not an offensive, capacity.<\/p>\n double quotation markWe\u2019re taking defensive action to support our partners efforts to keep Australians safe, deployed ADF [Australian defence force] assets will operate according to the right of collective self-defence.<\/p>\n Share<\/a>Oil prices fall sharply after Trump claims war will be over ‘very soon’ Oil prices have tumbled back from the four-year highs they hit on Monday after Donald Trump suggested the US-Israel war on Iran<\/a> could end \u201cvery soon\u201d.<\/p>\n It has been an extraordinary 24 hours in global markets.<\/p>\n This time yesterday, Brent crude, the international benchmark, surged beyond $100 per barrel<\/a> for the first time since Russia\u2019s invasion of Ukraine in 2022 \u2013 triggering stark sell-offs across leading Asian and European stock indices. Wall Street also started the day under pressure in New York.<\/p>\n Then Trump, who pays close attention to market movements, started talking. The war on Iran as \u201cvery complete, pretty much<\/a>\u201d, the US president claimed in an interview with CBS News.<\/p>\n Brent crude, which climbed as high as $119.50 per barrel on Monday, fell back sharply to settle at $98.96. On Wall Street, the S&P 500 clawed out of the red to finish the day higher.<\/p>\n Share<\/a><\/p>\n Updated at\u00a019.34 EDT<\/p>\n One person has died and others been injured from a \u201cblatant\u201d Iranian attack targeting a residential building in Bahrain\u2019s capital, Manama, the country\u2019s interior ministry has said on social media<\/a>.<\/p>\n The count was preliminary, it said, without specifying the number of injured.<\/p>\n Share<\/a><\/p>\n Updated at\u00a019.18 EDT<\/p>\n The day so far<\/p>\n Donald Trump described the US-Israeli war on Iran as a \u201cshort-term excursion\u201d and said it would end \u201cvery soon\u201d, as the assault on Tehran entered its second week. He said the war is \u201cvery complete, pretty much\u201d and ahead of schedule, a significant shift from his previous suggestions it could last several weeks. But he also indicated he was not yet declaring the US mission accomplished. \u201cWe\u2019ve already won in many ways, but we haven\u2019t won enough,\u201d he said. The operation would only end once Tehran no longer has any capacity of weaponry against the US, Israel or any US allies in the region for a long time, he later added. Here\u2019s our report<\/a>.<\/p>\n Trump twice declined to say whether or not Iran\u2019s new supreme leader Mojtaba Khamenei had a target on his back, saying only that he was \u201cdisappointed<\/a>\u201d and thought he was \u201cgoing to lead to just more of the same problem for the country\u201d. It came after a day of Trump being dismissive<\/a> of the late ayatollah\u2019s son \u2013 saying his selection was a \u201cbig mistake<\/a>\u201d and he was \u201cnot happy<\/a>\u201d about it – and reiterating that he still wants to be involved in the selection of a leader. Israel, meanwhile, has openly vowed to target the new supreme leader.<\/p>\n It comes as large crowds took to the streets in Tehran in a defiant show of support for Khamenei.<\/p>\n Meanwhile, Israel launched its second wave of strikes today against Tehran. The IDF claimed it had started a broad wave of strikes against \u201cterror targets\u201d in the Iranian capital, but it has been hitting critical energy and fuel infrastructure that serves ordinary Iranians.<\/p>\n Israel also pressed its offensive against Hezbollah with raids in the south and airstrikes in Beirut. Israeli attacks on Lebanon have killed 486 people, including at least 83 children, since 2 March, Lebanese state news reported, citing the country\u2019s health ministry. At least 600,000 people have been displaced in Lebanon, sparking fears of a humanitarian catastrophe.<\/p>\n Fresh Iranian missile and drone attacks also targeted Israel, US bases across the Middle East and energy infrastructure in the Gulf.<\/p>\n Oil prices surged by 20% to a four-year high before coming back down below $90 a barrel after Trump\u2019s suggestion the war would end soon. Iran earlier mocked the US over the rocketing oil price, branding its campaign \u201cOperation Epic Mistake\u201d.<\/p>\n British Typhoon jets intercepted drones heading towards Jordan and Bahrain, the UK\u2019s Ministry of Defence said.<\/p>\n Turkey said Nato defences shot down a ballistic missile in its airspace, the second intercepted missile from Iran in a \u200bweek.<\/p>\n Five female Iranian footballers have been granted humanitarian visas by Australia following an appeal from Donald Trump to Anthony Albanese. Our story is here<\/a>.<\/p>\n Share<\/a><\/p>\n Updated at\u00a019.06 EDT<\/p>\n Trump says that once the United States is done with the military operation against Iran, Tehran will no longer have any capacity of weaponry against the US, Israel or any US allies in the region for a long time.<\/p>\n Share<\/a>Trump twice declines to say if Iran\u2019s new supreme leader has a target on his back<\/p>\n Asked again if Mojtaba Khamenei has a target on his back, Trump declines a second time:<\/p>\n double quotation markI don\u2019t know want to say if he does or not, because that would be inappropriate.<\/p>\n Share<\/a><\/p>\n Updated at\u00a018.40 EDT<\/p>\n Trump ‘disappointed’ with Iran’s new supreme leader and says will ‘lead to more of the same problem’<\/p>\n Asked if Iran\u2019s new supreme leader Mojtaba Khamenei has a target on his back, Trump says he was \u201cdisappointed\u201d.<\/p>\n double quotation markI was disappointed because we think it\u2019s going to lead to just more of the same problem for the country. So I was disappointed to see their choice.<\/p>\n Asked about his previous comments that he had someone in mind to lead Iran, Trump says:<\/p>\n double quotation markI like the idea of internal and eternal.<\/p>\n He adds:<\/p>\n double quotation markI would like to see people that are inside.<\/p>\n They talk about the son of the shah [exiled crown prince Reza Pahlavi], they talk about other people. But [he] hasn\u2019t been there in many, many years.<\/p>\n We have a formula that\u2019s been very good so far, and I think it will continue to be good.<\/p>\n Share<\/a><\/p>\n Updated at\u00a018.34 EDT<\/p>\n Trump is asked if the US will accept any responsibility for the attack on a girls\u2019 primary school in Minab, Iran, after a US Tomahawk hit the naval base next to it<\/a>.<\/p>\n The US president says:<\/p>\n double quotation markWell, I haven\u2019t seen it.<\/p>\n He says other countries use Tomahawks and the incident is being investigated.<\/p>\n A reminder that the attack killed 168 people, most of whom were children.<\/p>\n Share<\/a><\/p>\n Updated at\u00a018.25 EDT<\/p>\n Trump says war on Iran will be over ‘very soon’<\/p>\n Asked if he thought the war on Iran would end this week, Trump says: \u201cNo, but I think soon. Very soon.\u201d<\/p>\n Donald Trump takes questions on the US-Israeli war on Iran at a news conference in Doral, Florida. Photograph: Mark Schiefelbein\/APShare<\/a><\/p>\n Updated at\u00a018.32 EDT<\/p>\n Donald Trump says he had a \u201cvery good call\u201d with Vladimir Putin.<\/p>\n They talked about Ukraine and the \u201cnever-ending fight\u201d there, he says.<\/p>\n They also talked about the Middle East. Putin wants to be helpful, he says.<\/p>\n Note: He was also asked if he approves of Iran\u2019s new supreme leader in the first part of this question, which he ignored entirely.<\/p>\n![\"Krishani](\"https:\/\/www.newsbeep.com\/us\/wp-content\/uploads\/2026\/03\/Krishani_Dhanji.png\")
Krishani Dhanji<\/p>\nCallum Jones<\/p>\n