Donald Trump stated that a new round of strikes on Iran would not "last too long" and reiterated that the United States controls the situation in the Strait of Hormuz. Oil prices stabilized after a cumulative gain of approximately 9% over three days.

U.S. President Donald Trump stated on September 2nd local time that the new round of U.S. strikes against Iran would not "last long," reiterating that the U.S. has been and will continue to control the situation in the Strait of Hormuz. He noted that the U.S. military's September 1st attack on Iran was "very severe," destroying "all new equipment Iran was attempting to deploy along the Strait of Hormuz," and that the U.S. is ready to strike again at any time. Affected by this, WTI crude oil, which had accumulated a gain of approximately 9% over the previous three days, stabilized near $91 per barrel, while Brent crude oil settled below $96 on Wednesday. Dennis Kissler, Senior Vice President at BOK Financial Securities, commented that the latest escalation should provide support to the market, but cautioned that both the U.S. and Iran are looking for an "exit ramp," and more signs of peace talks could quickly drive down oil prices. Additionally, data from the U.S. Energy Information Administration (EIA) showed that U.S. crude oil inventories decreased by 4.5 million barrels last week, the first decline since late July.