Trump Weighs Quick Iran War End, Oil Seizure

On October 23, 2026, President Trump told reporters that the United States could end the war with Iran very quickly. "We could end it very quickly. The question is, do we want to finish it off, or do we just want to let it wither," he said, calling Iran a failing nation and adding "we're getting everything we want" and "we're taking all the oil out that we want." He said the Strait of Hormuz was blocked for Iran but nobody else and that last week the U.S. took more oil out than before the war. Brent crude futures stood above $110 and WTI above $100. Mike Waltz, U.S. ambassador to the UN, told the Financial Times the war could last another year, that the U.S. can maintain its blockade, and that major nuclear concessions are needed. The war began February 28; a June ceasefire memorandum was followed by U.S. large-scale attacks resuming overnight to July 8 over alleged Hormuz violations. Trump on Thursday had said the U.S. may strike "a little bit further" after the midterms. WSJ/Kpler data showed Persian Gulf exports above prewar levels; traders cited in that reporting worried the gains might not last if fighting resumes. Whether Washington chooses a swift finish or prolonged pressure remains open.