
On March 9-10, 2026, President Trump's public statements about the ongoing U.S.-Israeli war with Iran caused dramatic market swings, with oil prices surging to $119 per barrel before plummeting to below $90. This timeline tracks how Trump's evolving rhetoric about the war's potential end—from calling it a 'little excursion' to declaring it 'very complete'—affected global markets and geopolitical tensions during the conflict's 10th day.
11 events · 1 days · 30 source articles
Iran launched an attack on a residential building in Manama, Bahrain's capital, killing one person and injuring others. This occurred despite Iranian President Pezeshkian's Saturday apology to neighboring countries, promising they would not be targeted unless strikes originated from their territory. The attack demonstrated Iran's continued regional offensive despite diplomatic overtures.
Five members of Iran's women's football team were granted asylum by Australia after they stood silent during the national anthem at a match. Iranian state media accused them of being traitors. The team had arrived in Australia before the war began for the Women's Asian Cup and faced the prospect of returning to Iran after being eliminated from the tournament.
Oil prices surged to $119 per barrel, their highest level since 2022, as markets reacted to the appointment of hard-line Ayatollah Mojtaba Khamenei as Iran's new supreme leader. Investors interpreted this as a signal that Iran was preparing for a prolonged conflict, 10 days into the U.S.-Israeli war. Stock markets slumped globally as the war threatened oil supplies.
President Trump told Republican lawmakers at his Miami-area golf club that the U.S. had taken 'a little excursion' to the Middle East 'to get rid of some evil' and predicted it would be 'a short-term excursion.' This was Trump's first clear indication that military operations could be ending soon, though he provided no specific timeline.
In a CBS interview, Trump stated 'the war is very complete, pretty much,' claiming Iran has 'no navy, no communications, they've got no air force.' He said the U.S. was 'very far' ahead of his initial four to five week timeframe for the conflict and that the U.S. and Israel had struck 5,000 targets since the war began February 28.
Following Trump's statements about the war ending soon, oil prices tumbled dramatically from their $119 peak to around $81-83 per barrel for WTI and Brent crude—marking the second biggest daily move ever for WTI. The crash represented investor relief that the conflict might not be prolonged, easing concerns about global energy supply disruptions.
U.S. stocks reversed earlier losses and closed higher, with Asian markets set to climb, as Trump's reassurances about a quick end to the war boosted investor confidence. The dramatic market reversal highlighted how Trump's messaging directly influenced global financial markets during the conflict.
Speaking at the House Republican retreat at his Miami golf club, Trump told lawmakers the war would end 'very soon' and 'pretty quickly,' stating 'everything they have is gone, including their leadership.' He portrayed the campaign as necessary to eliminate evil and emphasized the successes of Operation Epic Fury.
Despite Trump's optimistic statements, the Pentagon offered conflicting signals about the war's duration, creating confusion about actual U.S. strategy. Trump also left open the possibility of escalation if global oil supplies were disrupted, and suggested the U.S. could take military control of the strategic Strait of Hormuz.
Senator Tim Kaine (D-Va.) condemned Trump's characterization of the war as an 'excursion' as 'deeply disrespectful' to service members, particularly given that seven U.S. soldiers had died in the conflict. The criticism highlighted domestic political tensions over Trump's casual framing of the military operation.
Oil prices stabilized below $90 per barrel after the dramatic swings, with both Brent crude and WTI settling at significantly lower levels than the day's peak. G7 finance ministers announced they stood ready to release petroleum from emergency reserves. Agricultural commodity prices also fell alongside crude oil, reflecting broader market calm.