Tel Aviv: Kamal Kharazi, foreign policy adviser to Iran’s supreme leader, on Tuesday there is no room for diplomacy with the US and that the Iranian army is ready for a long war. As the war entered its second week, US President Donald Trump said 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.
But prices later fell and US 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. And, I think you will see it is going to be a short-term excursion”, Trump told Republican lawmakers at his golf club near Miami.
Hours later, Trump posted on social media: “If Iran does anything that stops the flow of Oil within the Strait of Hormuz, they will be hit by the United States of America TWENTY TIMES HARDER than they have been hit thus far.” The war has choked off major supplies of oil and gas to world markets and sent fuel prices rising across the US. The fighting has also led foreigners to flee from business hubs and prompted millions to seek shelter as bombs hit military bases, government buildings, oil and water installations, hotels and at least one school.
