Mar 10, Kathmandu - U.S. President Donald Trump has announced plans to swiftly end the ongoing conflict, leading to a sharp decline in global oil prices. Trump stated that if the conflict concludes soon and Iran's blockade of the Strait of Hormuz is lifted, stringent sanctions and actions will be enforced.

Prior to Trump's remarks, oil prices had surged to $117 per barrel. Following his statement, prices fell to around $88 per barrel. Meanwhile, Brent crude oil is currently trading at over $93 per barrel.

Trump warned that if Iran takes any steps to block the flow of oil through the Strait of Hormuz, the United States will respond with force twenty times more powerful than previous actions. “If Iran moves to stop oil shipments through the Strait of Hormuz, America will attack Iran with twenty times the strength,” he wrote on social media.

Iran's Revolutionary Guards have also issued a warning, threatening not to allow even a single liter of oil to be exported from the region.