Trump Says Renewed Iran Campaign 'Will Not Last Long', Cites Fresh Strikes Near Hormuz

US President Donald Trump said on Wednesday that Washington's renewed military campaign against Iran would not stretch on for "too long." His remarks came a day after the United States and Iran exchanged their heaviest fire since July, reviving fears over the stability of the region.

Speaking to reporters at the Oval Office, Trump said Iran had been building a rocket designed to drop mines and that American forces had destroyed it. He added that US strikes had also hit Iranian efforts to rebuild radar and missile systems near the Strait of Hormuz.

According to Trump, the latest operation eliminated new equipment, both offensive and defensive, that Iran had installed along the strait. He described the previous night's strikes as intense and said Washington remained ready to repeat them whenever necessary. He said the equipment destroyed was part of what Iran had been reconstructing since earlier rounds of strikes, some of which could have strengthened Tehran's military reach around the waterway.

The exchange marks the most serious flare-up between the two countries since July, unsettling what had been a fragile calm in recent months.

Oil Prices Slip After Volatile Session

The renewed hostilities rattled oil markets, with traders weighing the possibility of supply disruptions from the Middle East. Brent crude fell 43 cents, or 0.45%, to $95.20 a barrel on Thursday, while US West Texas Intermediate crude dropped 24 cents, or 0.26%, to $90.77 a barrel. Both benchmarks had swung sharply a day earlier, touching their highest intraday levels since July 24.

Worries over the Strait of Hormuz deepened after a string of tanker attacks. Saudi Arabia said an Iranian strike on its oil tanker Sidr killed two Filipino crew members. The vessel was one of two attacked near Oman's Khasab area on Monday. Riyadh blamed Iran for the assault, a charge Tehran has not addressed publicly.

Iran's Revolutionary Guard separately said two oil tankers had struck sea mines and were disabled while passing through the strait, a route critical to global oil supplies.

Qatar condemned Iran's attacks on neighbouring countries, calling them a clear breach of sovereignty. Kuwait reported that an Iranian drone strike sparked a fire at a residential building, fuelling concerns that the conflict could widen further across the Gulf.

Israeli Prime Minister Benjamin Netanyahu said his country's operations against Iran were not yet complete. Trump, in comments to Israeli broadcaster Kan, said Israel need not worry about the war reigniting, assuring that he would handle the situation himself.

US Secretary of State Marco Rubio warned that nations helping Iran set up financial mechanisms to raise funds could face American sanctions.

Trump reiterated that the current US campaign would remain limited in duration and would not run on indefinitely.