Donald Trump, speaking from his Doral resort near Miami, said the Iran war would end very soon as he tried to calm a market that had seen oil prices climb to $120 a barrel at the start of Asian trading. His remarks followed a 30‑percent jump that rattled equities and threatened global growth.

In response, G7 finance ministers convened an emergency session, pledging to release up to 300mn barrels of oil, diesel and petrol from strategic reserves. The move mirrored the 300mn‑barrel drawdown in 2022 after Russia’s invasion, aiming to curb panic and bring Brent futures back below $90.

Trump’s comments also highlighted that U.S. forces would not relent until the enemy is decisively defeated, yet he declined to set a precise end date. The Iranian Revolutionary Guard Corps warned it would block oil exports until further notice, underscoring the conflict’s direct impact on supply chains and market sentiment.

The market now stabilizes as the U.S. signals a possible end to hostilities, but uncertainty remains over the exact timeline. Investors will watch for concrete policy shifts and any further strikes that could reignite volatility.