US-Iran War: US President Donald Trump on Wednesday stated that the diplomatic efforts were ongoing to end the ongoing conflict with Iran. In his briefing, Trump claimed that Tehran was eager for a peace deal, adding that the US will launch fresh attacks if the peace talks fail. The US president further stated that the prices of oil will fall significantly once the peace is established in the Middle East. The movement of ships through the Strait of Hormuz has been affected, leading to an energy crisis across the world.

In his address, Trump stated that the US will end the war very quickly, adding that Iran wanted a deal "very badly". He further pointed out that the conflict around Iran should have been addressed decades ago. "We're blowing it away. We're blowing everything away. And we're going to end that war very quickly," Trump said. "They want to make a deal so badly, they're tired of...this should have happened for 47 years. Somebody should have done something about it. And it’s going to happen, and it’s going to happen fast," he added.

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'Oil Prices Will Go Down'

Amid the soaring oil prices across the world, Trump also affirmed that the prices will come down once the truce is established. "You're going to see oil prices plummet. They’re going to come down. There’s so much oil out there. They’re going to come plummeting down," he said.

The US administration is under severe political pressure domestically to secure an agreement to ensure safe passage of ships through the Hormuz, reported the news agency Reuters, citing sources. Trump had also claimed that he was just an hour away from giving the order of fresh attacks on Iran, reiterating that Tehran wanted the deal so badly.

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However, Iran stated that the US decided to not launch fresh attacks as it feared that any such strike would trigger a "decisive military response".