President Donald Trump has indicated a possible conclusion to the military offensive against Iran within the coming weeks. He also signaled a potential shift in responsibility for securing the crucial Strait of Hormuz, suggesting nations reliant on the waterway for oil and shipping should take on the task.

Prime-Time Address Scheduled

President Trump is scheduled to address the nation in a prime-time address from the White House on Wednesday evening. The address comes amid fluctuating statements regarding diplomatic progress and warnings of potential escalation in the conflict.

Claims of Iranian Ceasefire Request

President Trump stated on Wednesday morning that Iran’s new president has requested a ceasefire. He shared this claim via Truth Social, adding that he would only consider the proposal once the Strait of Hormuz is fully open. There has been no official confirmation from Iran regarding this alleged request.

Diplomatic Channels and Ongoing Conflict

Iranian Foreign Minister Abbas Araghchi confirmed to Al Jazeera that they have received messages from U.S. envoy Steve Witkoff. However, he emphasized that no direct negotiations are currently underway. Araghchi also stated Iran is prepared to continue fighting.

Rising Gas Prices and Military Deployment

The ongoing conflict has significantly impacted U.S. gas prices, which have surged past an average of $4 per gallon for the first time since 2022. This increase mirrors a similar spike following Russia’s invasion of Ukraine.

The U.S. military is reinforcing its presence in the Middle East. The aircraft carrier USS George H.W. Bush, accompanied by three destroyers, is deploying to the region, carrying over 6,000 sailors. Additionally, thousands of soldiers from the 82nd Airborne Division have begun arriving in the Middle East.

Strait of Hormuz and Oil Prices

Iran’s control over the Strait of Hormuz is contributing to rising global oil prices. Spot prices for Brent crude oil reached around $107 a barrel on Tuesday, representing a more than 45% increase since the conflict began on February 28th.

Trump’s Truth Social Post (February 28th): “Iran’s New Regime President, much less Radicalized and far more intelligent than his predecessors, has just asked the United States of America for a CEASEFIRE! We will consider when Hormuz Strait is open, free, and clear. Until then, we are blasting Iran into oblivion or, as they say, back to the Stone Ages!!!”