Donald Trump has claimed the Strait of Hormuz is “sort of open” and predicted that the war with Iran will “end pretty soon”.
The US president said although the shipping route was under US control, there was a possibility that Tehran could still “shoot things” or “drop a mine.”
"I think it's going to end pretty soon. I don't think they (Iran) can go much longer," Trump said in the Oval Office.
Trump also denied the US was running low on key munitions amid its war with Iran, insisting the country has "massive amounts" of ammunition and threatened lengthy prison sentences for officials who leak information about US weapons stockpiles.
The president was responding to US media reports that he had reprimanded defence secretary Pete Hegseth during a Cabinet meeting in which low ammunition stockpiles were discussed.
Earlier, Iran claimed a deal with Oman to fully open up shipping through the strait was on the brink of being agreed, with negotiations now in their “final stages”. The proposed deal would give Tehran control over ships entering the Gulf through the Strait of Hormuz, one of the biggest concessions yet to Iran.
Saudi Arabia expects imminent attacks from north and south, senior official says
Saudi Arabia expects imminent coordinated attacks from the north and south by Iraqi militias and Yemen's Houthis under the supervision of Iran's Islamic Revolutionary Guard Corps, a senior Saudi official said on Thursday.
The official, speaking on condition of anonymity, said intelligence reports from Saudi Arabia, the United States and other regional countries indicated civilian and economic sites could be targeted, including energy infrastructure, ports and airports.
Saudi Arabia had also observed drones and missiles being moved, suggesting coordinated operations from both directions, the official said.
The official said the reported threats were particularly alarming as Riyadh continued to pursue de-escalation and a negotiated settlement, adding that contacts with all parties, including Iran, and mediation efforts appeared to be moving "in the right direction." The official said the planned attacks could be intended to disrupt those diplomatic efforts.
The official said Saudi-US cooperation remained "very high" at all levels, including operationally with US Central Command, and said Saudi Arabia was prepared to take all necessary measures to respond to any aggression.
Trump says Americans will see gas for $1.85 a gallon soon. The national average is currently above $4
Donald Trump has said Americans will see gas for $1.85 a gallon soon.
“We'll see those days pretty soon again, based on everything I see”, the US president told reporters Thursday. “As soon as the war ends, and I think it's going to end pretty soon”.
The national average price for a gallon of gas is currently above $4. It was below $3 at the start of the Iran war in late February.
Trump denies shortage of key munitions in war with Iran
Donald Trump has denied reports that the United States is running low on key munitions amid its war with Iran, insisting the country has "massive amounts" of ammunition and threatening lengthy prison sentences for officials who leak information about US weapons stockpiles.
In a post on Truth Social on Thursday, Trump said: “Defence companies are building the largest number of plants and factories in our country’s history.”
The president claimed more weapons were being manufactured and shipped to the region, though he did not provide evidence or specify which munitions he was referring to.
His comments followed reports that he confronted defence secretary Pete Hegseth during a Cabinet meeting at Camp David last week over alleged shortages of critical weapons.
According to the Washington Post, citing two unnamed sources familiar with the discussion, Trump told Hegseth he felt misled because he believed the issue "had been fixed".
The newspaper reported that Hegseth defended his handling of the matter and sought to place responsibility on his deputy, Stephen Feinberg.
Trump later lashed out at the reports, accusing the media of publishing "treasonous statements".“The ‘leakers’ of these treasonous statements are being hunted down,” he wrote. “Long term jail sentences will be sought!”
Dollar drifts higher as traders eye Iran talks
The dollar drifted higher against the yen and euro on Friday, building on the previous day's gains as doubts about an Iran peace deal buffed the US currency's appeal as a haven.
The greenback also drew support from higher Treasury yields after a Financial Times report citing sources close to Federal Reserve Chair Kevin Warsh pointed to the potential for a September interest rate hike, depending on incoming data.
The monthly US payrolls report, due later on Friday, could provide more clues on the Fed's rate path.
The dollar rose slightly to 158.505 yen in the Asian morning, after gaining 0.4 per cent on Thursday, putting it on course to rise around 0.7 per centthis week as it recovered from a bout of joint Japan-US. intervention that sent the US currency tumbling from near a four-decade high above 163 yen on Thursday to a 13-week low of 155.20 on Monday.
Against the euro, the greenback edged up to $1.1521 after strengthening about 0.3 per cent in the prior session.
Brent crude rose a little over a dollar on Friday to trade at $83.55 per barrel, after settling up more than $3 in the previous session.
US military says it redirected 49 ships, disabled 2 during blockade
US Central Command said it has redirected 49 ships, disabled 2 and boarded 2 while enforcing its blockade of Iranian ports.
Houthi rebel attacks injure 11 people in Saudi Arabia
At least 11 civilians, including a four-year-old child, were injured after Yemen's Houthi rebels launched an attack on Saudi Arabia's southern Najran province, Saudi officials said.
The kingdom accused the Iran-aligned Houthis of indiscriminately shelling civilian areas.
A senior Saudi official, speaking on condition of anonymity, said Saudi, US and other Middle Eastern countries' intelligence found that the Houthis and Iraqi militias under the supervision of Iran's Islamic Revolutionary Guard Corps could soon launch coordinated attacks on Saudi civilian sites including energy infrastructure, ports and airports.
The Saudi official said the reported threats were alarming as Riyadh continued to support de-escalation and a negotiated settlement of the conflict with Iran, adding that mediation efforts appeared to be moving "in the right direction."
The official said the planned attacks could be intended to disrupt the diplomacy.
Trump says US has 'massive amounts of munitions'
Donald Trump has said the US has “massive amounts of munitions” and was expanding domestic production, rejecting leaked claims about US stockpiles.
“Defense companies are building the largest number of plants and factories in our country’s history,” he wrote on Truth Social.
“The ‘leakers’ of these treasonous statements are being hunted down. Long term jail sentences will be sought!!”
His post came after US media reports suggested the US has used nearly all of its global stockpile of long-range precision missiles during the war with Iran.
Iran threatens to strike critical energy infrastructure in response to US attacks
Iran has warned Gulf states that any fresh US attack on its territory would trigger retaliation against critical energy infrastructure across the region, according to five sources cited by Reuters.
"The Iranian warning was unequivocal: if America targeted Iran's infrastructure, they would retaliate by striking Gulf energy facilities and other regional targets," one Gulf source told Reuters.
The warning comes as Iran and Oman discuss a potential deal that could give Tehran a greater role in overseeing ships transiting the strategic waterway, though key issues remain unresolved, Reuters reported.
A source said that the proposed deal between Iran and Oman to help end five months of war between Iran and the United States would give Tehran control over ships entering the Gulf through the Strait of Hormuz, one of the biggest concessions yet to Iran.
While president Donald Trump has said a deal reopening the strait is imminent, US officials have repeatedly insisted they would never agree to Iran controlling access to the world's most important trade route for energy supplies.
Trump’s Iran deal: Three scenarios for what could happen next
As Iran and Oman close in on a deal to open the Strait of Hormuz, there is growing optimism that the main hurdle preventing peace talks to end Donald Trump’s war may be cleared.
Esmaeil Baghaei, the spokesperson for Iran’s foreign ministry, said an agreement is in its “final stages”, while US president Donald Trump said an "all-day negotiation" had taken place with Tehran on Tuesday.
Senior Trump administration officials, including secretary of state Marco Rubio and treasury secretary Scott Bessent, suggested a deal was imminent earlier this week – but an agreement had not been reached by Thursday morning.
Alex Croft reports: