President Donald Trump delivered a prime-time address Wednesday night, providing an update on the U.S. military’s progress in the ongoing conflict with Iran. He stated that U.S. forces will “finish the job” as core strategic objectives are “nearing completion.”

Conflict Overview and Casualties

The conflict began over a month ago, resulting in over 1,200 deaths in Lebanon. Thirteen U.S. military members and ten Israeli soldiers have also been killed, along with nineteen civilians in Israel.

Economic Impact and Oil Prices

Trump addressed concerns about rising gas prices, emphasizing the U.S.’s domestic oil production. He claimed the U.S. produces more oil and gas than Saudi Arabia and Russia combined, citing 2025 figures of over 13 million barrels per day for the U.S., compared to over 9.5 million for both Russia and Saudi Arabia (according to the U.S. Energy Information Administration).

Following Trump’s remarks, oil prices rose sharply. Brent crude jumped 5% to $106.22 per barrel, while benchmark U.S. crude rose 4.2% to $104.36 a barrel. Asian stocks also experienced declines, with South Korea’s Kospi falling 3.4% and Hong Kong’s Hang Seng dropping 0.8%.

Political Reactions

Democrats have criticized Trump’s address as “incoherent” and lacking answers to fundamental questions. Senator Mark Warner (D-Va.) highlighted the impact of the conflict on rising prices for essential goods. Senator Chris Murphy (D-Conn.) stated the speech was disconnected from reality and failed to clarify whether the U.S. is escalating or de-escalating the conflict.

Military Developments and Timeline

Trump did not mention a previously set deadline for Iran to open the Strait of Hormuz. He had previously announced a delay in a threatened strike until April 6, citing progress in talks to end the war. Shortly after the speech, Israel intercepted a missile launch from Iran, marking the third such incident on Thursday.

The President also referenced historical conflicts, comparing the current situation to World War I, World War II, Korea, Vietnam, and Iraq, noting the length of U.S. involvement in those conflicts. He asserted that the action in Iran, spanning 32 days, has been “so powerful, so brilliant” that Iran is “really no longer a threat.”

Iranian Military Capabilities

Despite Trump’s claims, independent data suggests Iran remains a capable adversary. While the number of Iranian strikes has decreased from almost 100 on March 1 to no more than 50 since March 6 (according to Armed Conflict Location & Event Data, or ACLED), experts believe this could be a deliberate rationing of resources rather than a depletion of firepower.

Nuclear Program and Future Actions

Trump stated that Iran’s nuclear sites are under “intense satellite surveillance and control” and reiterated his criticism of the Obama-era nuclear deal. He warned that any attempt by Iran to resume nuclear activity would be met with a forceful response: “If we see them make a move, even a move for it, we will hit them with missiles very hard again.”