US President Donald Trump on Thursday declared that he did not expect the war with Iran to resume, though he warned that any fresh Iranian attacks would be met with overwhelming retaliation.

He insisted that Washington would strike “ten times harder” if provoked and that any renewed fighting would be short-lived. Trump added that the situation would ultimately make conditions safer for global energy markets, saying oil would become “very free, very easy.”

His remarks came after he defended a new round of U.S. military strikes against Iran, which Washington described as retaliation for attacks on commercial ships in the Strait of Hormuz. Trump characterised the strikes as “retribution” for the bombing of vessels by Iran, warning that if such incidents continued, Tehran would face “much worse.”

The U.S. military confirmed that the operations were aimed at degrading Iran’s ability to threaten shipping through the strait, one of the world’s busiest energy corridors. The U.S. Central Command emphasised that the strikes were intended to preserve freedom of navigation and protect international trade, though Iran has not publicly admitted responsibility for the attacks.

Despite Trump’s assurances, oil markets reacted nervously. Brent crude futures rose 78 cents to $78.80 a barrel, while U.S. West Texas Intermediate climbed 74 cents to $74.26. Both benchmarks had already reached their highest levels in more than two weeks following Trump’s earlier warnings of further military action.

Analysts noted that investor concerns about prolonged disruption in the Strait of Hormuz were driving prices higher, as the waterway carries nearly one-fifth of global oil supplies. Any sustained instability could tighten supply and raise freight costs, leaving markets vulnerable to further shocks.

Industry experts warned that restoring normal shipping activity through the strait would be complex, requiring coordinated vessel movements, repairs to damaged infrastructure, and renewed confidence among shipowners.

Saudi Aramco’s chief executive Amin Nasser recently cautioned that any prolonged disruption could delay stability in global oil markets until 2027, affecting nearly 100 million barrels of supply each week. Analysts also highlighted that global oil inventories have been drawn down during the crisis and would take time to rebuild, adding to the fragility of the market.

The escalation has also cast doubt on the 60-day negotiation process between Washington and Tehran. Trump himself expressed scepticism about the viability of the temporary understanding signed on 17 June, saying he no longer believed it remained effective.

Iran, meanwhile, announced retaliatory strikes against U.S. military facilities in Bahrain and Kuwait, raising fears of a wider regional conflict. Iranian state media reported explosions in Bandar Abbas, Chabahar and Konarak, with electricity supply disrupted in parts of Chabahar. Reports linked to Iran’s security establishment suggested that military planners were preparing a larger retaliatory campaign targeting U.S. bases across the Gulf.

Despite these developments, Trump sought to project confidence that the confrontation would not escalate into a prolonged war. He reiterated that any disruption would ultimately make conditions safer for oil markets, insisting that energy flows would become “very free, very easy.”

However, markets remain cautious, with analysts warning that the Gulf is once again on the boil and that prospects for a diplomatic breakthrough have dimmed.

Agencies