Trump Optimistic as Iran War Nears End; Tehran to Respond to US Proposal Today

US President Donald Trump has expressed confidence that the ongoing conflict with Iran will conclude quickly, with Tehran expected to deliver its response to a proposed peace agreement through mediators on Thursday.

Tensions in the Middle East appear to be easing as diplomatic efforts gain momentum. US President Donald Trump stated on Wednesday that the war with Iran “will be over quickly,” while pushing for a resolution covering the Strait of Hormuz and Tehran’s nuclear programme. 

According to multiple reports, Iran is set to hand over its formal response to mediators today regarding a US-backed framework aimed at ending hostilities.

Diplomatic Breakthrough on the Horizon

Negotiations have reportedly advanced significantly in recent hours. Sources indicate that a 14-point Memorandum of Understanding is under discussion, though not yet finalised. The proposed deal includes a formal declaration to end the war, followed by a 30-day window for detailed talks on key issues such as navigation through the Strait of Hormuz, Iran’s nuclear ambitions, and potential easing of US sanctions.

Possible venues mentioned for further discussions include Islamabad and Geneva. Trump, speaking during a tele-rally and later at the White House, described recent talks as “very good” and reiterated that Washington’s actions were meant to stop Iran from acquiring nuclear weapons. 

Trump Warns of Consequences, Highlights Progress

In a Truth Social post earlier, the US President had warned that failure to agree would lead to intensified military action. However, his tone shifted to one of cautious optimism on Wednesday night. “They want to make a deal, and we’ll see if we can get there,” he remarked during a White House event. 

Trump also shared a chart on Truth Social comparing the current “Iran Excursion,” reportedly lasting about six weeks, with much longer previous US conflicts in Afghanistan, Iraq, and Vietnam. He captioned it simply: “Wow. Study this Chart!”

Officials familiar with the matter said the US maintains a strong naval presence in the region, described by Trump as acting like a “steel wall,” restricting Iranian vessel movements. He added that the situation remains “under control.” 

Market Reaction Positive Amid Ceasefire Hopes

Global markets responded favourably to the de-escalation signals. Oil prices fell sharply on Wednesday, with Brent crude settling around $101 per barrel, down nearly 8% from the previous day. Just a week ago, prices had climbed above $120 amid supply fears. 

Equity markets also climbed, reflecting investor relief over potential stabilisation in energy supplies. The developments come against the backdrop of ongoing supply disruptions affecting several regions. 

South Korea, for instance, extended its ban on petroleum stockpiling for another two months to manage domestic fuel market stability. 

Regional Spillovers Continue

While focus remains on US-Iran talks, related tensions persist. Israeli forces carried out strikes in southern Lebanon, including one targeting Erzi town near Sidon and another in Beirut’s southern suburbs that reportedly killed Malek Balou, a commander of Hezbollah’s Radwan Force. 

Four Israeli soldiers were injured in a separate drone attack in southern Lebanon. Israeli Prime Minister Benjamin Netanyahu stated that no terrorist would be safe and emphasised protection for northern Israeli communities.

ASEAN Summit to Discuss Energy Fallout

The broader West Asia crisis is also drawing international attention. Leaders at the ongoing ASEAN summit in Cebu, Philippines, are expected to prioritise discussions on the global fuel crisis and its impact on energy and food security for the region’s nearly 700 million people. 

Analysts note that managing economic fallout from the conflict could take precedence over other regional issues during the meeting. 

What Lies Ahead

Iran’s response today will be crucial in determining whether a ceasefire materialises within the next 48 hours, as some reports suggest is possible. While both sides appear interested in de-escalation, significant differences remain on nuclear issues and sanctions relief. 

Local authorities and shipping trackers continue monitoring maritime movements, with some empty tankers still navigating Iran-linked routes despite sanctions. 

The coming hours could mark a turning point in one of the more intense chapters of recent Middle East tensions, with implications for global energy markets, shipping routes, and regional stability.