President Donald Trump said US military operations in Iran are expected to end soon, calming markets after missile attacks across the Gulf and the closure of the strategic Strait of Hormuz sent oil prices surging past $100 per barrel.
Iranian forces, under newly appointed supreme leader Mojtaba Khamenei, launched strikes on Saudi Arabia, Bahrain, Qatar, the UAE, Israel, and NATO-member Turkey, escalating regional tensions.
Despite ongoing uncertainty, Wall Street rebounded as traders reacted to Trump’s assurance that a short-term conflict was imminent, while France and its allies planned a “purely defensive” mission to reopen the strait.
The war has caused global market volatility, disrupted shipping, and triggered emergency declarations from Gulf energy producers, with at least one civilian killed in Bahrain and missile attacks hitting Israel.
Analysts warned that the new Iranian leadership signals defiance, with regional groups pledging support and the multi-front conflict continuing to claim lives and strain stability.
Source: PhilNews24 | March 11, 2026
