US and Iran exchange threats as Trump claims Tehran seeks peace deal amid ongoing conflict

The United States and Iran remain locked in a military conflict that has now entered its 82nd day, having begun on February 28, 2026. President Donald Trump has issued an ultimatum to Iran, giving Tehran just 'two to three days' to reach a peace agreement while simultaneously threatening renewed military strikes.

Speaking to reporters at the White House, Trump claimed that Iran is eager to strike a deal and that Iranians are 'tired of the conflict.' The US President revealed he had been just 'an hour away' from launching fresh attacks on Iran before postponing the order. This disclosure came after weeks of fragile ceasefire negotiations between the two nations.

Iran has responded to Trump's threats with warnings of its own. Tehran announced it would open 'new fronts' in the war if the United States launches another attack. Iranian leadership emphasized that the country has learned from past clashes and is prepared to escalate the conflict should the United States follow through on its threats.

The ongoing conflict has significantly impacted global energy markets. Brent crude futures are currently trading at around $110.83 per barrel, while US West Texas Intermediate crude futures stand at $103.88. However, oil prices have declined in recent days following Trump's predictions that the war would end 'very quickly,' raising hopes for easing tensions in the Middle East.

The strategically crucial Strait of Hormuz remains at the center of global attention. This waterway carries a substantial portion of the world's oil exports. South Korean oil tankers have cautiously resumed passage through the strait after completing consultations with Iranian authorities. This marks the first such case involving a Korea-managed ship since the Iran war began, according to South Korea's Foreign Minister Cho Hyun.

Economists are warning about the far-reaching consequences of the conflict. Some experts predict a global recession unless the Strait of Hormuz reopens fully soon. The disruption to energy supplies could have severe implications for the world economy, as many countries depend on oil imports from the region.

Trump emphasized that the United States would ensure Iran cannot obtain nuclear weapons. He expressed hope for a peaceful resolution to the conflict and said Washington had done 'an amazing job in Iran.' The President also predicted that oil prices would soon fall sharply due to an expected oversupply in global markets.

Despite the public threats, talks between Washington and Tehran appear to be continuing. US Vice President JD Vance had previously indicated that both sides had made progress in negotiations. These diplomatic efforts are running parallel to the military tensions and mutual threats being exchanged publicly.

The conflict has raised serious concerns about regional stability and global energy security. Iran has been warned that intensifying attacks on Arab energy infrastructure, including oil fields, refineries, and ports, represents one of the most potent ways the Islamic Republic could inflict pain on the global economy and pressure the Trump administration.

The international community is watching developments with great concern. The war has already had substantial impacts on the stability of the entire Middle East region and global energy security. While both sides are taking hard public positions, it remains to be seen whether diplomatic channels can lead to de-escalation before further military actions are undertaken.

The current situation represents a critical juncture in US-Iran relations, with both military and diplomatic tracks operating simultaneously. The outcome of the next few days, given Trump's stated deadline, could determine whether the conflict escalates further or moves toward resolution through negotiated settlement.