President Donald Trump said Monday that the war with Iran could conclude “fairly soon,” pointing to what he described as growing momentum toward ending the conflict. He also said Tehran was “talking very politely” with Washington.

Trump spoke with reporters at the White House following a meeting with Qatari Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani. Qatar has served as an intermediary as Washington reviews an Iranian proposal delivered through Qatari mediators.

“We’re seeing momentum toward the end of this conflict. I think it’s going to be ending fairly soon,” Trump said after the meeting. His remarks presented a notably restrained assessment of the prospect for further American military action.

“Iran militarily is effectively over,” Trump said, citing the destruction of the Iranian navy. He also pointed to surging inflation that he said had hollowed out Iran’s economy during the conflict.

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In a Truth Social post, Trump said Qatar, Saudi Arabia, UAE, Bahrain and Kuwait would “prefer the status quo.” That arrangement involves maintaining the naval blockade against Iran while continuing Operation Iron Gate.

Operation Iron Gate is a task force announced Saturday that is intended to prevent Iran from using ground routes to move advanced weapons and other materials. Trump presented the operation and naval blockade as the preferred course among the five regional countries.

The president reiterated that Iran would not be permitted to possess a nuclear weapon. Although he left open the possibility that strikes could resume if circumstances changed, he described additional strikes as “quite unlikely.”

Trump nevertheless stressed that American forces remained prepared to act. “America is ‘docked and loaded’ and ready to go,” he said while playing down the immediate prospect of another round of strikes.

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The conflict is now in its ninth month and has driven a sharp increase in fuel prices. Those higher costs have affected nearly every sector of the global economy, placing the economic consequences of the war alongside its military and diplomatic stakes.

The United States reportedly had planned for a possible increase in naval forces in the Middle East during the period before the midterm elections. Trump had also hinted at escalating the conflict following the election results.

The administration has since lowered the temperature of its public war rhetoric. That shift followed midterm election results in which Republicans lost both chambers of Congress as voters expressed frustration with soaring living costs stemming from the war.

A diplomat briefed on the Qatar meeting told Axios that Trump informed Al Thani he wanted an agreement and would allow negotiations an opportunity to proceed. The diplomat said Trump could reverse course if Iran failed to take the negotiations seriously.

Reuters reported that Iran submitted a proposal to the United States through Qatari mediators, citing a senior Iranian official. The proposal demanded the removal of sanctions imposed on Tehran and the creation of a new shipping route through the Strait of Hormuz.

Washington was reviewing the Iranian proposal, according to the Reuters report. Iranian officials, however, disputed that negotiations with the United States were taking place, leaving the public descriptions from the two sides sharply at odds.

Mohsen Rezaei, secretary of Iran’s Supreme National Security Council, reportedly called on Washington to stop “manufacturing fake news about imaginary talks.” His statement directly challenged reports that active discussions were underway between Washington and Tehran.

Oil prices moved lower Tuesday as markets weighed the prospect of deescalation, extending losses from the previous day. U.S. West Texas Intermediate fell over 1% to $85.8 per barrel after dropping more than 4% during the prior session.

Brent futures also declined more than 1%, reaching $91.56 per barrel and hovering near their lowest levels in 10 weeks. The market movement followed Trump’s comments that the conflict could end soon and that renewed strikes were unlikely.

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