US considering 'winding down' war with Iran - Trump. Brent fell below $108

The US is considering "winding down" its war with Iran, US President Donald Trump said on Truth Social media. The price of Brent crude then plummeted, dropping from nearly $113 a barrel to less than $108 for a while.

"We are getting closer to achieving our goals as we consider winding down our great military effort in the Middle East against the terrorist regime of Iran," Trump wrote on Friday, March 20.

"We are getting closer to achieving our goals as we consider winding down our great military effort in the Middle East against the terrorist regime of Iran," Trump wrote on Friday, March 20.

Guarding and controlling the Strait of Hormuz should be done as needed by "other countries that use it," which is not the case with the US, Trump added. "If asked, we will assist those countries in their efforts, but it will not be necessary once the threat from Iran is eliminated," the US president added. The Strait of Hormuz connects the Persian Gulf to the open sea and plays a key role in the world's oil supply: before the war, 20 percent of the global flow of crude passed through it. However, after the outbreak of hostilities, Iran effectively blocked it.

After Trump's comments, the cost of Brent crude oil fell sharply - from $112.86 to $107 per barrel, according to data from the Intercontinental Exchange. Then quotes rose above $108, which nevertheless meant a decline compared to the closing a day earlier. But ended trading on ICE Brent still grew - by 0.8% to $109.55 per barrel.

Earlier Friday, Trump ruled out a ceasefire in the conflict with Iran. "You don't go to a ceasefire when you're literally destroying the other side," he said.

At the same time, the US president was vague about whether Washington plans to seize Kharq Island, through which 90% of Iran's oil exports pass. "Maybe I have a plan, maybe I don't, but how can I tell a journalist about it?", Trump noted in a Bloomberg account. Axios wrote that the White House is considering plans to occupy or blockade the island to pressure Tehran to open the Strait of Hormuz.

CBS sources said the Pentagon has made "detailed preparations" for the deployment of U.S. ground troops to Iran. And The Wall Street Journal wrote that the U.S. is moving some 2,200 to 2,500 Marines to the Middle East.

Fears of a U.S. ground operation intensified fluctuations in oil prices and stocks in the United States. The cost of Brent exceeded $113 per barrel at its peak, US WTI reached $98.75 per barrel. All four major U.S. stock indices fell, with the Nasdaq Composite and Dow Jones temporarily in the correction zone, and the Russell 2000 index of small and mid-capitalization companies remained in it even at the close of the exchanges. A correction begins when the index falls more than 10% from its last peak.

This article was AI-translated and verified by a human editor