US President Donald Trump has indicated a willingness to end the military campaign against Iran without reopening the Strait of Hormuz, according to reports from the Wall Street Journal. The White House has not confirmed the details but referred to comments by Secretary of State Marco Rubio, who stated the strait would be open 'one way or another.'
The development comes as oil prices fluctuated in response to the news, with Brent crude futures initially rising before reversing course. Analysts noted that any meaningful change in prices would require the full reopening of the Strait of Hormuz, which handles about 20% of global oil and liquefied natural gas supplies.
Trump's Stance and Negotiations
Trump has reportedly told aides he is open to ending the war even if the strait remains closed, leaving the complex operation to reopen it for a later date. The White House has also considered asking Arab nations to cover the costs of the war. Meanwhile, Iran has dismissed US peace proposals as 'unrealistic, illogical, and excessive,' according to Iranian Foreign Ministry spokesperson Esmaeil Baghaei.
Military and Diplomatic Efforts
The US and Israel have continued military operations, including strikes on Iranian ammunition depots and uranium facilities. Israeli Prime Minister Benjamin Netanyahu suggested long-term solutions could involve rerouting energy pipelines to bypass the Strait of Hormuz. The White House has maintained that the original timeline for Operation Epic Fury, which aims to dismantle Iran's military infrastructure, remains in place.
Economic and Market Impact
Oil prices have surged since the conflict began, with Brent crude rising over 40% in March. The latest fluctuations reflect market uncertainty over the war's duration and the strait's reopening. Asian stocks also reacted to the mixed signals, with some markets experiencing losses.
International Reactions
Spain has closed its airspace to US planes involved in Operation Epic Fury, while other nations have engaged in diplomatic efforts to mediate the conflict. The US has reportedly delayed strikes on Iran's power plants as negotiations continue.