US officials and markets react to Iran war developments

US Secretary of State Marco Rubio defended the war against Iran, stating that President Donald Trump initiated the conflict to protect the world from Tehran’s nuclear ambitions. Rubio noted that while such actions may not be popular, they are necessary for national security. This defense comes amid political pressure following Republican losses in the US midterm elections, which some, including Vice President JD Vance, attributed to the conflict and its economic impact.

President Trump stated that a resumption of hostilities is “very unlikely,” provided there is progress in negotiations with Tehran. He emphasized that the necessity of further military action depends on whether a solid agreement is signed.

In global markets, Brent crude oil prices fell below $90 per barrel for the first time since August. This decline is driven by investor optimism regarding a potential diplomatic resolution to the Middle East conflict. Additionally, strong crude oil flows from the Middle East and increased shipments through the Strait of Hormuz have contributed to the downward trend in energy prices.